Well I sanitise and store my collection on Calibre which is then backed up to a USB stick and my laptop.
I also epub all my books and upload them to Google drive and import from there to Google Play books. I also have a copy of all of them sent to my kindle archive (so amazon cloud) and on my Kindle.
I also do the same for my music purchases/ripped CD's save on HDD, USB and laptop and upload to google play music.
So except for major Alien/Zombie invasion/outbreak my digital content is pretty safe. And yes if the world went belly up we'd all have more important things to worry about.
But i'm still of a mind that shops are extremely negligent on informing customers that they aren't buying digital things just licensing them. I look round many online store and constantly see places I can buy things and nowhere do I see the words license this music or license this book.
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