Digitize your media and clean up space. Scan paper documents and manuals into TIFF or PDF format and store. Then shred and recycle the paper. Subscribe to online versions of magazines and newsletters. Download books that you want to add to your collection. Keep only the paper documents that you must such as SS cards and birth certificates.
Digitize your current DVDs and download movies from online sources such as iTunes in the future. Digitize your music and recycle the plastic jewel cases. Just be sure to keep the originals for now in order to satisfy copyright regulations.
Consider the mindset of minimizing the number of electronic devices that you use to play your media. Sell, donate or recycle dvd and cd players while opting instead for media controllers that stream content from HDDs such as the Apple TV or WD media controller. Feel free to add!