For pro video editing - which is to say lots of content that frequently changes - tape backup still makes sense. There's still no better way to archive large amounts of data, although 2.5 TB (IIRC) tape size for the latest LTO has fallen behind, and the next gen isn't due for likely a year.
But the one-time cost for tape drives is pretty steep. If you're going to use many tapes each month, it's worth it. Heck, I'd say even at 10 TB of new data a month being archived, there's no better way. But for, say, 10 TB of fixed data that just needs to be archived once, it's overkill.
Buy a few HDDs, keep their shipping containers, make a backup and ship them to a friend in a different state. Repeat yearly. That's the economical way. Eventually it will all fit on a single drive, after all (aren't there leading edge 10 TB drives already?), and so you're looking at ~$10/month long term (heck, no matter how much fixed data, eventually it will fit on one drive and cost about that much).