Could you imagine how great these services would be if copyrighted works fell into the public domain after 28 years instead of the nearly 100 years they are now?
I think the OP is only taking about media which was created for the purpose of being sold to people, and is easily copyable.
IMHO there are fundamental differences between that and something that was purchased to satisfy the needs of yourself or your close associates.
There's also a world of difference between a new paperback copy of The Fellowship of the Ring for $10, and a movie from some old company that went out of business in the '70s and whichever company bought up all the scraps never bothered to capitalize on the IP, and the movie can't be purchased (new) for any price anywhere. If it's been ten years since your media was commercially available, it should be at least temporarily public domain. If you want to assert that copyright, start selling it, then you can have exclusive access to selling it again.
It's dumb how much of 20th century history has been lost because of the march of ever dumber copyright laws.
Valve turned a huge profit on Portal 2. Yet they refuse to make Portal 3. Why? Because compared to Steam, Portal 2 generates a tiny ROI by comparison.
Option A: invest $1 in Steam and get $10 back
Option B: invest $1 in Portal 3 and get $2 back
which do you do?
Same goes for movie industry. A movie promises returns for decades as it is milked and re-released in various formats. If the movie can only make money for 20-ish years, ROI goes down significantly. Read: "The Disney Vault" [1]
May I offer an alternative reason why Valve did not make Portal 3? It's because when you rehash the same game, people get sick of it. Sometimes a product needs to stand on it's own. Why harm the Portal franchise by being to quick to release, release, release?
Seems like hollywood is already on board with this. What do they need Ghostbusters to have a 100 year copyright on when they could just release a new Ghostbusters every 30-40 years like they're pretty much already doing.
Like I made mention before, just because they don't want to release it now doesn't mean they won't want to do another one in 20-30 years after technologies and ideas have had enough time to mature to put a new twist on things.
Well, the entire movie industry doesn't even exist any more, because it was killed by the videotape, according to the MPAA. Remember, Jack Valenti of the MPAA asserted before Congress in the 1980s that videotape recorders would destroy the movie industry. So none of this should even be an issue now.
The MPAA is full of it on this one. Most investments happen with a payoff expected within a few years. In general,.investors don't care about what money they can make in 30 years.