Digital data storage on microfilm is a promising alternative for long-term storage of digital data. Its estimated lifetime of up to 500 years and the availability of reading devices allow entirely new migration-free storage concepts. This paper presents investigations on the suitability of color microfilm as a medium for digital data storage being an alternative to conventional black-and-white film material. The main question we address is whether the advantage of three color channels justifies higher efforts and expenses related to this material. Therefore, an analysis based on several exposed test patterns has been performed. It turned out that the regarded film in combination with the employed exposure setup is very differently capable of storing data points depending on the color layer. Although black-and-white film material has several advantages in our opinion, special cases are pointed out where the use of color microfilm for digital data storage is attractive.