Yes (assuming that you're entitled to make a back-up copy at all in your country). The purpose of a back-up copy is after all that you will still have the program, movie, etc. if the original disc is lost, damaged or destroyed.
Further, when you make a back-up copy, you have the option of using the original and archiving the copy as a back-up rather than being obliged to use the back-up and archiving the original. The choice as to whether you use the original or back-up copy is yours.