Magnetic audio tape has a fascinating history, beginning with Morse Code and the first telegraph in 1844 — 119 years before audio cassettes and other magnetic-tape-based instruments of personalized entertainment and endless frustration. In 1963, Philips introduced the audio cassette at the Berlin Road Show. Sony pressured Philips into licensing the format for free — music cassettes and recorders followed. When Sony released the Walkman in the late '70s, it established the sort of industry dominance that gets companies so far into the lexicon, their brand name becomes the product's only name (see Xerox, Google, Kleenex, Trapper Keeper, Band-Aid).
Then came the CD player — who needs a tape reel when you can choose tracks at will? CD sound systems replaced tape decks, then smartphones came in for the kill. They made it silly to even consider buying either cassettes or CD players (plus, no more lugging around a Trapper Keeper full of physical media discs for changing albums on the go.)
Some people long for a return of the magnetic tape. One company has even made a little money on nostalgia for them — but make no mistake, once the audio cassette goes into the time capsule, it's only coming out to go directly into the landfill … or the recycling plant.