Luckily enough, HDCP encryption is broken.
You can download the verilog for a HDCP "overlay" (which, for obvious legal reasons only encrypts HDCP so that a video overlay can be put on a digital image) from: http://kosagi.com/netv_hardware/
This has been presented at http://events.ccc.de/congress/2011/Fahrplan/events/4686.en.h... .
From this code you could create your personal HDCP removing HDMI-splitters using the FPGA module used by the original article.
Re:DIY FPGA-based HDMI ambient lighting
by matmann2001 on Thursday April 23, 2015 @02:55PM
(#9428977)
The HDMI splitter may re-encrypt. But an HDMI-to-Composite converter wouldn't.
That's the "analog hole", and it closed January 1, 2014. No Blu-Ray player manufactured after that date offers analog video output.[1]
Of course, if your source is a Blu-Ray player, the HDMI output will have HDCP encryption, so the approach from the article won't work either. There are some "HDMI splitters" which don't encrypt on the output side, but most splitters now do re-encrypt.
[1] http://forum.blu-ray.com/showthread.php?t=230112