Your idea sounds a lot like how the libraries operate here in Toronto. They have lots of media available to borrow besides books: movies and tv shows on Blu-Ray, video games for various consoles, etc. I’ve seen folks come borrow armfuls of Blu-Rays, all free of charge. You also have access to various media via streaming/online as well, although I’m not sure how extensive the collection is.

It’s not perfect though; there are limits on how many copies of a digital item can be checked out simultaneously. It’s a rather artificial constraint.

I wonder…what it would take to get a license to start an institution like a library to allow for others to borrow media like this?