If you have a BluRay player most will read BluRay content burned to a DVD (a.k.a. BD5), and others will do AVCHD (a related but more simple format). You'll be much more limited in terms of space obviously, but you can still put video on there at far better than DVD quality.
Also if you're like me and have a rotating set of games you install and uninstall, you can copy installation backups to a series of DVDs. Steam even has a built-in option to break installation backup files into 4.3 gig files specifically for burning to DVD.