Invented by the Germans in the late 20s, the Magnetic tape was a very popular recording medium for both audio and video. It consist of a very thin strip of plastic that is magnetized and was very popular long before the discovery of compact disks for both broadcasting and recording. There was no room for making mistakes as all radio and television shows were done live until its introduction which has given permission to the panel since shows could be recorded.
We live in a dynamic world and when change comes, we change with it. This device had to be improved by incorporating the use of the magnetic wire which was discovered a bit earlier. This is also the reason why the popularity of the tape has deteriorated although it still has numerous uses. It was not until World War II that it was unveiled to the rest of the world after a few improvements were made to it.
It is interesting to note that before the system was perfected, it could not serve both radio and television applications since television requires more bandwidth than radio. It was however used for the storage of computer data and IBM initiated this to the market. It was only after the development of the video cassette recorders that it could serve television purposes. We owe all this to Sony among other companies.
The magnetic tape was preferred due to its affordability per bit but this is changing. This is owed to the fact that more improvements have been made on disk storage capacity as well as the prices. Although still in use in the current day for backup purposes, it leaves a lot to be desired because of its incapability to use virtual memory.