One may be surprised that tapes still exists, let alone be a topic of continued innovation, they can be extremely handy when one needs to store dozens of terabytes of data in a single location. Optical discs can attain extreme capacity with triple-layer Blu-Ray drives hitting 100GB, but that’s only a fraction of the 15TB that these tapes can store.
Finally, unlike disk drives, tapes can not only store huge quantities of data for a low price point, but they don’t use any energy, and are more resistant to shocks. Of course, hard drives are much better to store frequently-accessed data, so they don’t really compete with one another.