Music is entirely different, and I agree with you on that: I really don't understand the current phenomenon where so many people want to pay for streaming music access, and my best guess is that it's mostly people who don't care that much about music and just want some crappy filler playing in the background all the time.
We'll start here. My theory is that most people that "like" the current manufactured commercial crap really don't want to own it - after all, how many times would you listen to most of the top 100? Once might be too many. Very little of the top 100 has actually stuck around more than a year or two, in many cases even the "artists" disappear. (Perhaps they started getting big-headed and demanding more than $0.02 / song?)
Personally I have very specific music I want to listen to, so I keep it in Ogg form on all my devices
I have found that any lossless format is fine, including Apple's. I've actually transformed my entire library twice now, deciding on a core base that happens to match the systems that use it most. I have backups in a second format. As long as it's lossless and there are conversion tools available, I'm really not wedded to any format.
I don't watch movies that often, and it just isn't very often that I re-watch a movie.
I'm at the stage where I wind up watching quite a few movies twice. Fortunately, the amount of movies I get exposed to multiple times has dropped significantly. There are some that make for an entertaining backdrop while exercising though.
Right, and how much did all those cost you?
A while back I picked up a couple of hundred HD movies during a clearance for about $1 each. I also took advantage of a special sale and got about 100 recent movies for $20 total. I don't expect that deal to repeat itself (getting 4-6 recent BD movies for a little over $1 is insane, thanks MC!!!). Needless to say, these stock my HTPC and I've yet to watch them all. Oh, I also picked up almost 50 3D titles averaging about $7 each. If I were to sell off the DVD/BD portions of those, I'd make money. Then there's the friend sharing network. Once done with a movie, we trade. Considering a trip to the theater with family for a new movie will set you back at least $10 / person these days, it's pretty easy to justify buying a few movies a month and watching them at home. It also side steps the crappy seating, sticky floors, and loud talkers.
How many dozens of movies do you have to make a decent collection so you aren't watching the same 3 movies over and over? The total cost there is significant. With Netflix, you pay a cheap monthly fee (less than $10) and can watch all you want at any time, out of a truly enormous catalog. If you really like a particular movie a lot and want the higher quality (and lack of worries about problems with access) that a physical disc offers, you can certainly buy that too; it's not either-or.
My HTPC currently has a stock of about 400 unwatched movies in the library plus several hundred TV episodes. With unlimited space, you can collect an entire series, and then binge watch it with automatic commercial skipping (OTA DVRs can be great) Makes exercise time a little more entertaining. And unlimited space is key here, reliable 4TB disks are about $90. I have about 10, several being leftovers from when I used to edit HD video. Just stay away from seagate drives.