A big problem with spinning disks is that storage grows inversely with the area of the dots, while reading and writing speed grow inversely with the diameter of the dots. If you store 100 times as much data, all else being equal, time to write a full disk will be ten times as large. Ways around that are increasing rotation speed (been there, done that. There is little to gain here without making the disk a lot strong…
Stronger ≠ heavier. The parameter of interest is specific strength, which is the material's (ultimate tensile strength/density). I forget what the plastic in DVDs is, but it could probably be reinforced with carbon fibers (chopped, nanotubes, etc.) to give a useful increase in rotation speed.
Also, now I think a bit more about it: in a 50-speed CD player or a 16-speed DVD player, the edge of the disk moves at about half the speed of sound. Doubling rotation speed would push it over the sound barrier. I guess it would take quite a bit of research to make a CD/DVD/BlueRay player that will work fine at those speeds (a way around that is to make the disk smaller. That would be an option for a disk with the storage density discussed here, but it wouldn't win you more than a factor of four or so, at most)