So this is a breach of contract, which could lead to an end of your service if you are caught.
It is not, however, impossible to do, and the method by which it is done sidesteps the DMCA restrictions on breaking encryption. There is one software called Playon, which acts as a screen recorder, so it does not break encryption, and is in fact, supported by a Supreme Court ruling on recording television using a VCR. Playon has been in business since 2011 and the television studios, movie studios and streaming video businesses have ignored them, since the outcome of a suit would be in doubt. Is it entirely legal? I'm not sure anyone can answer that. It might have to go to court for a judgement.