As a note, I use netflix for Blu-Ray and DVD rental, so I hardly ever buy movies. I also tend not to watch them again once I've viewed them.
As for games, I love to buy them as I'll bring them over to my families house, or lend them to my brothers, and I buy a lot of them new (Thanks Nintendo for making games that never drop in price). I've considered Gamefly, but their service isn't nearly as good as Netflix and is more expensive.
I think the biggest way to save money on video games while still maintaining the same quantity of games purchased is to buy used via e-bay/amazon. The tough part with that is being willing to fall behind on the latest games. You can cut your bill to 1/3rd of buying new by buying 1 year late. I also like to use videogamepricecharts.com to find out which game is dropping in price the fastest.
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