The recording industry is currently undergoing a transition from longitudinal to perpendicular magnetic recording (PMR). Areal densities (AD) have reached more than 130 Gbit per sq.in. in products and 250 Gbit per sq.in. in laboratory demostrations. The key technology enablers are head, media and head-disk interface, which all face significant scaling challenges and limitations. Fundamental limitation include thermal stability of media grains and write fringe field of the recording heads, which will likely limit PMR recording to 500-1000 Gbit per sq.in.. At an AD growth rate of 40% per year it should take between 4-8 years to reach those limitations. Technologies beyond PMR include Heat-Assisted Magnetic Recording (HAMR), which eliminates the field constraint of the recording head and self-organized magnetic arrays (SOMA), which eliminate microstructural constraints of sputtered media. The current perspective is that both technologies will eventually be needed to push beyond Terabit per sq. in. recording and to continue to grow this industry.@footnote 1@ This talk is intended to lay out a future technology roadmap and to provide a perspective of "what's next". @FootnoteText@ @Footnote 1@Dieter Weller and Terry McDaniel, chapter 11, Media for Extremely High Density Recording in Advanced Magnetic Nanostructures, eds. David Sellmyer and Ralph Skomski, Springer 2006.