It's not what you think, it's part of fair use:
At the moment it is technically illegal to transfer content from CDs and DVDs onto a different format such as a computer or MP3 player.source
Today the Government is putting the wheels in motion to change this, allowing people to transfer content and make copies for their own and immediate family's personal use.
In other words, it should be my legal right to watch any of my Blurays and DVDs I've bought on my PS3, PC, HTC Legend, PSP, or turn it into a flipbook for personal use
. This is part of fair use in many countries, and I'm glad at least one new country is recognizing this right. It also legalizes turning your CD collection to MP3s, which is currently illegal in the UK AFAICT.