In an IPTV system, the rights of the content and service provider can be protected by using Conditional Access System (CAS) and Digital Right Management (DRM). In case of the CAS, only the authorized user who has structured authentication keys can decrypt the encrypted content. However, since the CAS establishes a secure channel only between content provider and Smart Card (SC), it cannot protect the system against McCormac Hack attack which eavesdrops on unsecure channel between SC and Set-Top Box (STB) and SC cloning attack. In this paper, we propose a robust multi-STB assisted SC / STB authentication protocol which can protect the IPTV system against not only McCormac Hack attack, but also SC cloning attack. The previous works which bind a STB and a SC during the SC registration phase against the SC cloning attack does not support multi-STB environments. The proposed system which dynamically updates the STB information in subscriber management system using the bi-directional channel characteristic of IPTV system can support the user's multi-STB device effectively.