The ability to geographically fence a media item or to limit the amount of views available.
Licenses functionality requires a dynamic server component to have an instant reaction to retracting a media item. A dynamic component is also needed to filter the requested media for a specific country.
Why are licenses important? Which audience deals with these? I personally think it will be mostly publishers and re-publishers such as MediaWorks, where we are re-publishing English books into different languages.
The original publisher does not want our copy to end up in his market.