No, the gaming industry isn't lending games to you perse. What the gaming and software industry is doing is make the end-result available for public use, so long as people don't reverse engineer a product.
So consumers own the right to use the end-result of a compiled application, but not decompile an application and use the code, because the code is protected by international copyright laws and intellectual property laws. The music files that make up the background (BGM) music and the sound effects also belong to the company and/or individuals who produce and/or direct them. In most cases, they are made exclusively to the application themselves, thus it actually belongs to the company who developes the application.
For example, there was one person in Vancouver who ripped one of the BGM from one of the games we produced, and made available for download on her web site. Our lawyers contacted her to remove it immediately. Why? First and foremost, it broke the end-user agreement, and second the music composer who happens to be me had not given her permission to use it otherwise.
First, the company has to protect itself, and second the artist or programmers or designers have to protect their own work, unless it is under the GPL - General Public License.
HOWEVER, I did provide a place for you to search for ripping music - I know it's contradictory to what I have been trying to defend, but it's not like everyone is pure and goody goody right? 8]
Just go to Google, make a search for "ripping music from games" and it will be the first link that comes up... 8]