Sirius XM announced that it will increase its subscription rates for satellite radio access. Beginning April 27, the Select subscription cost will increase from $14.99 to $15.99 per month. Standalone access to Sirius XM Internet radio will also go up $1.
The company raised its rates for other subscriptions in June 2015, also by $1. At the end of 2015, Sirius XM reached a record high of 29.6 million total paid subscribers. Of those, 24.3 million are self-pay subscribers. The company’s net income dropped in the fourth quarter of 2015, so the additional revenue could provide a boost to Sirius XM’s numbers in the later quarters of 2016.