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Sirius XM announces price hikes

siriusxm logo canvasSirius 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.

Anna Washenko

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