I would be willing to bet that around the country in many small businesses magnetic tape storage for data backups is very common. Magnetic tape is cheap and the tech has been around for a long time making it a known in the business world.
Imation has announced a new magnetic backup tape cartridge for users who still use tape for backups. The new tape is called the LTO Ultrium Generation 5 tape cartridge and it offers 1.5TB of native storage space.
When data is compressed, the tape can store 3TB of data. The tape supports WORM and hardware encryption. Data transfer for the new tape is 280MB/sec and Imation uses several different technologies to make the tape more secure and prone to less errors.