Apple has been sent a formal notification of copyright infringement regarding the way VLC for iOS is distributed in the App Store.
Rémi Denis-Courmont, one of the primary developers of VLC, explained to MacStories that Apples iTunes Terms and Conditions don't allow users to install both free and paid apps on more than 5 devices. This goes against the original GNU license VLC's code is based on.
"In any case, while the rules for distribution of open-source or "free" (as in speech) software are extremely relaxed, they do exist and have to be abode by. VLC and open-source software in general would not have reached their current quality and success if it had not been for their license. Therefore, blatant license violation cannot be tolerated at any rate. Concerned users are advised to look for application on more open mobile platforms for the time being."
You can download VLC Media Player from the App Store for free.
You can install it on as many devices as you want, the download is free. Nothing in the license text of the standard form says that a particular binary image has to be installable on multiple devices, from the same image on disk. Multiple iTunes accounts would allow multiple instances, would allow all the installs you want. This is nit picking for the sake of platform denial ... There is no real restriction ...