Storage (Computerized Devices)  - The word 'storage' is often used in reference to more permanent memory that exists on disks and tapes.  'Memory' is more often a term used to indicate data storage areas in the form of computer chips.  'Storage' areas retain the data put in them after the computer is turned off whereas 'memory' areas typically lose their stored data when the computer is turned off. 
    Local Storage often refers to storing content at the subscriber's location as their DVR does. Network Storage is when the network operator stores the content (or most of it) at their location, typically on their servers. In video on demand, network storage may be referred to as Network-based Video on Demand.