IBM, Fujifilm developing 8 terabyte magnetic tape cartridges

If you thought that magnetic tape cartridges were headed the way of Zip disks and five-and-a-quarter-inch floppies into the storage medium graveyard, think again, because IBM and Fujifilm are currently working together to make the venerable technology capable of storing a Blu-ray-humbling eight terabytes-per-cartridge. Using barium ferrite crystal film from Fuji and read/write technology from IBM, the two companies are reporting success in creating storage densities of up to 6.67 billion-bits/square-inch, which is something like fifteen times the capacility of current backup tape. Unfortunately there is no word yet if the cartridges, which should be available in about five years, will be able to fit in your old 8-track player for rocking millions and millions of MP3s.