This is how it works:
PS4(HDCP) > HDMI Cable > TV(HDCP) : Gets picture
PS4(HDCP) > HDMI Cable > TV(No HDCP) : Black Screen
You can bypass this by active HDMI splitters, however, they are against the law.
Not in the Netherlands against the law, allmost everything uses hdcp, only old digital products dont. In my opinion and basic hardware specs ps4 is better in every aspect, accept online. Microsoft handles that better, but that's it. Graphicwise ps4 beats the xbox on every spec that matters...