"Is 来る strictly for coming to a physical location[?]"
The answer to this part of the question is no, of course not. Google/Oxford Dictionary:
"[C]an it be used to describe a product a product release[?]"
Yes, it works but 来る is not the best word for contexts involving movies. It is not uncommon that 来る collocates with games. People often say things like「ガンダムのゲームが来るぞ！」 But with movies, you got better word choices such as 「上映」「公開」「封切る」(the last one often occurs in the passive 封切られる. Please see @aguijonazo's comments)
If it is music, 「リリース」is the most common word, and yes it came from "release". リリース also works with software and research reports.