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Over the last 30 years, space per unit cost has doubled roughly every 14 months (increasing by an order of magnitude every 48 months). The regression equation is given by: Several terabyte+ drives have recently broken the $0.10/gigabyte barrier, making the next milestone $0.01/gigabyte, or $10/terabyte.
A Terabyte is approximately one trillion bytes, or 1,000 Gigabytes. There was a time that I never thought I would see a 1 Terabyte hard drive, now one and two terabyte drives are the normal specs for many new computers. To put it in some perspective, a Terabyte could hold about 3.6 million 300 Kilobyte images or maybe about 300 hours of good quality video. A Terabyte could hold 1,000 copies of the Encyclopedia Britannica. Ten Terabytes could hold the printed collection of the Library of Congress.