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Music industry’s 1990s hard drives, like all HDDs, are dying
(arstechnica.com)
This is a most excellent place for technology news and articles.
Paper tape would probably work, as long as you could find a reliable reader for it. I'm actually old enough to have used it and the readers often had problems. Getting rid of the mechanical aspects of the reader and replacing them with light sensors would go a long way toward fixing that.
Paper doesn't last, is hard to store, and the information density is miserable.