I also prefer to the second method by using third-party iTunes tools as my purpose is to share the iTunes movie purchases onto my Plex server. For me, I'm using DRmare M4V Converter from DRmare software. It's also a lossless iTunes DRM removal tool similar with TunesKit. But I like its interface that makes the process much easier. You can find more details from its official page.
How to share iTunes purchases to others
in Mac, iPhone, iPad, iPod
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I also prefer to the second method by using third-party iTunes tools as my purpose is to share the iTunes movie purchases onto my Plex server. For me, I'm using DRmare M4V Converter from DRmare software. It's also a lossless iTunes DRM removal tool similar with TunesKit. But I like its interface that makes the process much easier. You can find more details from its official page.