Here would be a thought, of course the movie studios would absolutely hate it but why doesn't some company like Apple come up with an online storage system that keeps track of your movies for you?
Of course you'd have the problem of losing your entire collection if the company were to ever go bust, but if it were all digital (let people even scan the bar codes of their DVDs to add the digital version to their collection).
When a new higher resolution format you could upgrade your collection all at once, probably for a per-movie fee but once you buy one copy of a movie you'd be future proofed at minimum cost rather than $10 for a SD DVD now, another $15 when it comes out HD, another $20 with the next greatest thing... Instead $1-2 per movie and you instantly get the resolution that best fits your new TV. On the go, you can access your collection via the internet and download to your iPhone, iPod Touch or any other internet enabled device so your entire collection would be available everywhere. You could also set it up to be able to loan movies to friends and make them unavailable to yourself like when you lend your friend a DVD.
The lack of being able to market the next new format might cause the movie studios to balk a bit but they could actually make more money as people upgrade their entire collections rather than just a few discs with every format change. Of course the other issue is how the company offering the service is going to make money, I don't know how many people would be willing to pay just for storing the movies they own, but if the service was tied to a store where the movies can be bought as well as stored then it may be possible with no subscription fees since you only need to store each movie once and then make sure that those who own it can access it when they need it.
If this service existed for the
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TV I'd go get it in a heartbeat and start adding my DVD collection. The hardest part would be keeping people honest and not a bunch of friends using the same DVD to add it to all of their collections, of course the same problem exists with CDs in that I can loan my friends CDs and they could rip them into their own iTunes.