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Terms and conditions are NOT copyright law. They are a separate agreement that is the companies "wishlist" of things they want the consumer to agree too. It's common for them to spell out terms in direct conflict with copyright law.
The reason that an iTunes video purchase is encrypted is because it is illegal to break the encryption in order to make a copy (DMCA). However capturing the playback and transforming it to another medium is for personal use is fair-use.
There is also no time limit to how long a person can save the copy for. As long as they had legal access to the content at the time of making the copy. For example say I recorded a football game from a streaming service. I can save that copy for personal use for the rest of my life even though I purchased a one time only streaming.
Sure. Regardless, their terms and conditions should give you some idea of how they're using technology to permit and/or restrict access.
FTFY
I don't think content providers are encrypting things because it's illegal to decrypt things. They're encrypting things because the content producers (movie studios) want to ensure that (1) they're getting paid for the content, (1B) it's not given away for free and, (2) they're in business to make money.
To my knowledge, there are no laws about making copies. Breaking encryption is illegal because the encryption itself is protected under law. Selling copies is illegal. Playing copies of something for which you are not permitted or do not legally own a license to watch is illegal. So, if you make a copy of a cassette tape, legal; profiting from that copy, illegal.
Copyright law is not contract law.
Some items have time limits - such as renting a movie from iTunes or Amazon or borrowing a book from a physical or digital library. You are entering a contract with the provider where they grant you temporary access to something. If you were to make a copy of something you were given temporary access to, you are breaking the contract.
I don't know what the agreement is for football organizations or your content provider. If you're breaking broadcast or HDMI encryption to record a stream, that's illegal. If you're somehow bypassing encryption, that is probably legal. I do know that it's illegal to re-broadcast the content in public and to resell that program. There are also some fair use rules (in the US) which permit limited use for commentary and education purposes.