Re: not yours
It's not quite an absolute right though - it's as long as you don't circumvent any copy-protection technology in doing so.
That's where it starts to get tricky but at least in Germany you can. But basically, as long as you're not distributing, the point is moot.
And, again, the market is moving on with Netflix's streaming model proving remarkably successful, and more worringly for the copyright owners, its massive move into content creation.