What do you mean by "compulsory licensing"? I skimmed the Wikipedia article but I'm missing how it worked specifically for video rental but not streaming services.
Basically, it means there doesn't need to be any formal agreement between the broadcaster and the IP owner. If you own a radio station, you can play whatever song you want (provided it doesn't violate things like obscenity rules), and the IP owner can't say boo. The IP owner gets compensation, but they don't get to dictate what radio stations get to play their songs.
Commercial radio stations and others can get a blanket license for playing songs, e.g. https://www.ascap.com/music-users/types/radio. Furthermore, if you want to cover a song you can automatically get a license to perform that song. The artist can't typically withhold that right the way a playwright, say, can.
Physical video rental, like the sales of used books, is allowed under first sale doctrine. You can't make copies and sell but, so long as you're lending or selling a physical copy that you bought, you're good.