MPEG authoring is now available. A CD-ROM can store video, audio, and data. Currently, data and audio can be mixed.
Tape is a good archiving method, and best used if the tape drive or device is portable.
Also, there are a range of tapes, and not everyone has the same software. Most CD-ROM drives were built to accept a common format called 'ISO9660'. Audio and video cd-roms have their own format. Because you want access to data. And it lasts - according to most reports, at least 10 years.