I'll never understand the need for record companies to completely lock down the products they sell to specific regions. The whole concept of license exclusivity in different countries is an archaic practice made pointless by the rise of digital media. Many companies are losing out on a ton of profit by not putting their media up online for purchase or access around the world.
For example, I have tried to buy a number of older albums from different regions. Unfortunately, unless I am willing to pay a premium to a store that does not benefit the artist or the record label (resale), I am completely unable to actually buy the album despite the fact that it still commercially exists in the country of origin. This harms the record company and the original artist while benefiting resale to an extent if someone is willing to purchase that item.
It should generally be a simple process to convert traditional media into a digital format for access online, especially with the rise of many looking into new styles of music online. There are YouTube channels that exist solely to share different styles of music that people generally do not hear on the radio. As a result, people are finding new styles of music that they love without really having access to purchase the music their selves.
Websites like Bandcamp give the musicians themselves the ability to monetize the music they make, though it does require them to handle the marketing on their own. Companies which no longer wish to distribute music could also launch an initiative on Bandcamp to sell their music. It would ultimately reduce their overhead in distributing their music since they would be using Bandcamp's infrastructure to deliver the music and it would also give them an easy way to provide their listeners access to the music.
Physical distribution is something that is starting to fall by the wayside. I don't know many people that actually buy the physical media. I get that some people do actually wish to buy the albums, but most of my friends will just download it or listen to it on something like Spotify or iTunes. I generally just buy online media unless it is something I really want to have a physical copy of. I've been collecting some vinyls for the albums that are really dear to my heart.