IANAL and have not followed this super closely so take this with a grain of salt, but from what I understand the answer is "no". In practice nobody pursues this kind of personal use, but that's very different from it being legal, and it has not truly been tested in courts either way.
You can make backups... with the encryption intact. But breaking DRM is essentially always illegal for any purpose, thanks to the wonderful DMCA. And that's before getting into EULAs that more and more frequently deny you ownership over what you bought, only a "temporary, revocable, non-transferable license to play this format on licensed devices in specific circumstances" or similar.
You can make backups... with the encryption intact. But breaking DRM is essentially always illegal for any purpose, thanks to the wonderful DMCA. And that's before getting into EULAs that more and more frequently deny you ownership over what you bought, only a "temporary, revocable, non-transferable license to play this format on licensed devices in specific circumstances" or similar.