(1) For the use of the term in chip fabrication, see
taped out.
(2) Recorded. Even though the overwhelming majority of audio and video today is recorded onto hard drives, solid state drives (SSDs) and flash memory cards, many people still use the earlier magnetic tape terminology when referring to a recorded session. "Let's look at the videotape" means looking at the recording, which is commonly electronic and not magnetic. See
videotape and
magnetic tape.