Amazon Web Services is one of the biggest actors providing virtual services and servers. 3 days ago it announced a new, inexpensive data archival service which, for $0,01 per Gb permonth (in Europe $0,011), allows you to store as many Tb you want.
Data are saved in huge, inexpensive commodity hardware components (rumors suggest that data are stored in low cost and high capacity disk-drives) which enhance the durability thanks to an high level of redundancy. In fact, AWS suggests a durability of 99.9999% (it means 10 bytes every Tb per month). Not bad for a low-cost cloud storage system.
I believe this system will be great for Amazon (who demostrates to be one of the biggest cloud service provider in the market, hoping that it will integrate it with S3), and for big companies(which could profit of the cheap service to store data that cannot be deleted such as legal and financial data). Finally also startups, small companies and freelances who cannot allocate a huge budget on data storage could profit of this cheap service.
The only counterpart (which justifies the cheap price) are the transfer prices. The 1st Gb of the month is for free (that why I believe is very useful for small businesses and young professionals) but it becomes really expensive from that point to the first 10Tb: $0.201.