The makers of PlayOn have created PlayLater
software that records streaming videos. It costs $5 per month or $50 per year.
PlayLater is a software program that gives you the ability to record movies and TV shows from supported Internet websites to your hard drive in order to watch them later at your convenience. Once recorded, you do not need an Internet connection to watch the recorded videos.
PlayLater relies on a free-version of PlayOn which must be installed on the PC. You can read more about PlayOn at www.playon.tv. The PlayLater installer will install PlayOn automatically for you if you don’t already have it installed. You do NOT need to purchase PlayOn to use PlayLater.
Here's a review which provides some details:
Basically, the review says that the software has a lot of bugs that need to be worked out. Apparently, the video quality isn't very good. And the videos are recorded in a proprietary format, so you can only view them on a computer that's running the software. Or you can use PlayOn to stream the recordings to your TV, but that software requires an additional subscription fee.
If they can fix the bugs and improve the video quality, this might be worth trying out in the future.