Free released an analysis of its 2008 results that stated that it has 423,868 unbundled subscribers as part of the business that it acquired from Alice, France. All of these subscribers can get free IPTV channels as part of their broadband service, assuming that they have an appropriate set-top box. Adding these Alice unbundled subscribers to Free's 2.900,000 unbundled subscribers give the company a total of 3,323,868 unbundled subscribers.
All of the Free unbundled subscribers have a set-top box that can receive its IPTV service. Free recently made a similar set-top box available to its Alice subscribers.
It is always interesting counting IPTV subscribers for Free. I think it is fair to count all of Free's 2.9M unbundled subscribers. How to handle the Alice unbundled subscribers is less clear. Today, I would split the difference. In another couple of years, I would count all of them.
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