I have three copies of every download.
1. My media drive.
2. My media drive backup.
3. My offsite media drive backup which includes all my stuff, not just media.
and a 4th, iTunes in the Cloud which I don't consider a backup copy, only a convenience copy.
All all these copies take up substantially less space than a box, drawer, or other piece of furniture housing hundreds of discs.
everyone should have at least 1 and 2. Not keeping backups of your media is one of the dumber things that you can do. Especially to complain when you lose something that you didn't even take the time to backup.