For DVDs, we did Vudu, you put the disc in, it reads it to verify you have a physical copy and then it pulls the digital copy from their own site and adds it to your account for like $1 each.
This was great because we could take my sisters scratched DVDs and if it could just read the tag in the beginning, we got the copy even though you couldn't actually even play the disc.
They allowed us to link accounts so all my sisters and older niece have a merged account where we can see anything anyone buys and I converted everyones DVDs that were worth the $1 to rewatch. Now Auntie can buy 1 copy and everyone gets to watch. The app works across devices and you can download so put some on my Kindle for flights. Its also nice to be able to watch your movies at other peoples houses via just a log in.
The best part of digitizing for us was eliminating the extra furniture and boxes needed to store it and was key to downsizing. We digitized absolutely everything (recipes, books, music, movies, paperwork, pictures).
My friend too the VHS tapes, we sold a bunch of DVDs/CDs at a rummage sale, the rest went to goodwill.