Not a Netflix user, so unsure what's their solution, but here is a hint:
- Make your iAP/Subscription packs (like 1 device, 3 devices, etc)
- When the user logs in and restores his purchase, check the device's UUID and see how many UUIDs are actives for that account
- If the number of devices is less than the limit, activate it, else return an error (like the user needs to logout from the other device, where logging out sends the UUID a last time for it to be removed from your database).
You'll have of course to handle the case where a user removes your app(s), which resets the UUID you receive, and should add a way for a user to log out from all devices (arases all UUIDs and frees the pool).