If you have a break-in and your CDs, DVDs and boxed games are taken, who's property has been stolen? The IP holder or yours? How will the police view it?
The media is the stolen property, its dollar value (so long as the intent wasn't to copy and distribute the intellectual content, that's a separate crime). If it was breaking and entering just to steal a few dollars worth of movies, the worth of the movies isn't going to be the serious issue the thief is looking at it.
