Simple management of storage space in iTunes?
I have 500GB of space taken up on my primary iMAC with downloaded iTunes movies. I don't need to hold all of this on the computer - I could just re-download something I want to watch again from the Store. What is the best way to release the space and keep the download functionality? I tried deleting a movie through iTunes on my iMAC - it certainly disappears, but does so completely. It does not show as downloadable or that it has been purchased - its completely gone. On the other hand, using both my Apple TV and an iPad, I can see the same movie still there in my account in the iTunes Store as a purchased movie, so I can find a way to retrieve it. Is it possible to free the space on my iMAC while still seeing on that same device in iTunes what could be downloaded if I want it? Sorry for such a dumb question, but before deleting dozens of movies, I want to know.
Using iTunes 12.1.2.27 on OSX Yosemite 10.10.3
iMac, Mac OS X (10.6.8)