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> also most of the formats used today to archive digital media are lossy (mpeg4, h264, jpeg etc)

"Lossy" doesn't mean it wears out. If you are a digital media librarian, you will use MPEG and put it in a container with error-correction codes and store multiple copies.

"Lossy" refers to the encoding between the full data you got from your scanner/digital encoder and the final file. It doesn't mean that meaningful information is lost from the original analog artifact and it doesn't mean it's not great for long-term preservation.



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