Commercial regular DVDs and BluRay DVDs both typically use encryption and other methods as a way to prevent copying. In the United States, the 1996 Digital Millennium Copyright Act (DMCA) makes it a criminal offense for most parties to circumvent such protections. Music CDs do not use such protection methods.
You own shiny round pieces of plastic. The movie and record companies own the data that is stored on those shiny round pieces of plastic. When you purchase those shiny round pieces of plastic, the movie and record companies grant you a license to play / view their data per the terms of the license.
What about the DRM on some iTunes music? The last time I checked (a long while ago) you have to agree to Apple's iTunes Store Terms of Service (TOS) that should explain exactly what you can and can not do with your purchases. The DRM is there to enforce those terms of service.
I consulted and checked moments ago -in RealNetworks v. DVD CCA, it was ruled that distributing ripping software and tools was illegal, but the act was not. It is legal for consumers to circumvent whatever (petty) encryption DVDs, Blurays, etc. contain and keep a personal copy on a computer or DVR.
The issue (still unsettled) is whether copyright law or the DMCA prevails. Copyright law does allow you to make 'backup' copies of copyrighted material but doesn't prohibit the copyright owner from preventing you from doing so. DMCA doesn't make it illegal to make backup copies of copyrighted material, but it does (purportedly) make it illegal to break the copyright protection that prevents you from doing so.
So the basic question as to which law prevails depends on what (whoever) charges you with. If they charge you with making an illegal copy then you can defend yourself under copyright law and that's pretty much determined to be OK. But if they charge you with breaking the encryption then you need to defend yourself under DMCA and that still isn't definitively settled. And as with all laws, the final decision still depends on the judge. As I was told in law class, everything's legal until you get charged-and then it depends on how well you can sweet talk the judge. (IANAL, but I have taken a couple of law classes out of interest. I don't remember which professor said this or even if it was original with him-but I do remember what he said.)
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