I think it was Jacob at ERE that talked about how he considers the public library his own personal library. If he wants to read something, he goes there and gets it, so no need to keep it in his house. It changed how I viewed books (used to want a huge personal library), and now I own maybe 12-18 books that I use for reference or that have legit personal meaning (as in written and signed by a friend, not just 'this book was a meaningful read').
For DVDs, I digitized my movie/tv show library onto a home theatre PC (XBMC/Kodi on a Raspberry Pi). Depending on your level of technical acumen (it doesn't take much), and desire for a computer project, I'd highly recommend it. Cleared up so much space. I hate physical media.