Not quite. There isn't really a concept of licensing with optical media (nor any media that proceeded it). What you did was buy the copy but not the copyright.
You do have rights to copy the disc, depending on the content and the country. This is described as a backup. Things get very murky here though because in some countries backing up software discs is seen as different to backing up CD content. And then DVD has a whole other set of problems because circumventing DRM is another legal issue aside from copying the video content (and different countries have different laws for DRM and some even have exemptions specifically for DRM in DVDs).
With regards to redistribution, you're allowed to sell second hand optical media -- irrespective of the content on them. In fact there are entire businesses based around reselling second hand DVDs and CDs (eg Music Magpie in the UK).
As for performance, this is where things get a bit murky again. Audio performances are allowed if you are registered with the PRS (or similar organisation) as they redistribute members license fees with the content owners. The PRS are woefully bad at what they do and in effect they're just a legal payment protection racket, but that's a whole other topic. Performing data content would be subject to copyright too but it would depend on what was played as to which clause of copyright was in effect -- and in fact it could span multiple different clauses (much like music would have a copyright for songs writer as well as the recording artist, games would have copyrights on the music, artwork, etc and that IP might not be owned by the same publisher). I don't know the law (any international laws) regarding performing DVDs aside that some countries have exemptions for schools perform.
Then you have something called "fair use" which grants permissions to use, redistribute and even modify copyrighted content -- albeit with a strict set of caveats.
Needless to say, things were complicated enough even before internet distribution changed the way content was "licensed".
You do have rights to copy the disc, depending on the content and the country. This is described as a backup. Things get very murky here though because in some countries backing up software discs is seen as different to backing up CD content. And then DVD has a whole other set of problems because circumventing DRM is another legal issue aside from copying the video content (and different countries have different laws for DRM and some even have exemptions specifically for DRM in DVDs).
With regards to redistribution, you're allowed to sell second hand optical media -- irrespective of the content on them. In fact there are entire businesses based around reselling second hand DVDs and CDs (eg Music Magpie in the UK).
As for performance, this is where things get a bit murky again. Audio performances are allowed if you are registered with the PRS (or similar organisation) as they redistribute members license fees with the content owners. The PRS are woefully bad at what they do and in effect they're just a legal payment protection racket, but that's a whole other topic. Performing data content would be subject to copyright too but it would depend on what was played as to which clause of copyright was in effect -- and in fact it could span multiple different clauses (much like music would have a copyright for songs writer as well as the recording artist, games would have copyrights on the music, artwork, etc and that IP might not be owned by the same publisher). I don't know the law (any international laws) regarding performing DVDs aside that some countries have exemptions for schools perform.
Then you have something called "fair use" which grants permissions to use, redistribute and even modify copyrighted content -- albeit with a strict set of caveats.
Needless to say, things were complicated enough even before internet distribution changed the way content was "licensed".