The announcer on Stephen Colbert's show says it's "live on tape" but it isn't on tape. It's on some sort of digital media but it's not tape. And on that show and so many others, people walk around and say, "What time do we tape?" but there's no tape.
Definitions of words do change. Is "tape" now becoming a verb that means "to record," regardless of how you record it? I just checked a couple of online dictionaries and none of them have made that leap yet. Will they? Maybe.
I'm trying to think of what word you could plug in there. "Live on tape" makes it pretty clear that they're recording the show in real time…which I don't think Colbert always does, either. What term would convey the same idea without using the word "tape?" I don't think "Live but pre-recorded" does it.
This is one of those things I think about when I should be thinking about more important stuff.