I have over 300 CDs and around 100 DVDs, including box sets for a few TV shows that I enjoy. I am still buying, but at a very slow rate, and its usually from a pawn ship, eBay, or on Black Friday (Thursday?) I use the box sets of comedies while I'm working out.
My weekend hobby is mixing live sound so I need to play break music in places where there is no connectivity from time to time. For that reason, and out of habit, I maintain a music library in iTunes of songs that I've ripped from my CD collection and from CDs checked out from the library. My library is ripped at 222Kbps, a rate I chose back when storage space on portable media was a concern. One of my retirement projects might be to redo my music library at 360 VBR; a rate that my ears are not be able to distinguish from 16 bit or lossless.
I don't use YouTube nearly enough. In fact, I was kind of surprised to learn that it's a great source for music and not just videos. While I still have a good stereo at home, I rarely sit down in the center sweet spot and listen to a CD all the way through anymore. In reality, my CD and LP collection has always been mainly a source to make portable mix tapes from, so the advent of high capacity lossy portable music players has worked out great for me. I sold my turntable and LPs years ago and if I can figure out a good backup method, then once I redo my music library, I could sell off my CD collection too.