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This article describes compares the Office 365 and the Microsoft OneDrive apps in Canvas and best uses for each. Files stored in OneDrive do not count against the Canvas file storage limit/quota of 1 GB.  

You can store most any type of file in OneDrive to use with Canvas including media-rich PowerPoint files. If you are using stand-alone video or audio media consider using Kaltura for storage and making it accessible through Canvas.