Notices

Sirius to raise prices

Old 02-05-2009, 08:39 AM
  #1  
Senior MemberCaptains Club MemberPLEDGER
Thread Starter
 
Join Date: Oct 2004
Location: North Myrtle Beach SC
Posts: 8,045
Default Sirius to raise prices

Sirius XM Radio Inc (SIRI.O) plans to increase prices for subscribers with multiple accounts and begin to charge for its online music feed, moves that may help the pay-radio service meet looming debt payments.

While it is keeping its core rates unchanged -- a condition to which Sirius and XM Satellite Radio agreed last year in order to close their merger -- the move could also anger subscribers still raw from a series of programming changes enacted in November.

Starting March 11, users with more than one account will pay about $9 for additional accounts, up from about $7, a customer service representative for the New York-based company said Wednesday.

Also, subscribers will have to pay about $3 a month for the online version of the service. Currently, it is free for subscribers.

Users will be able to defer the increases if they sign up for a long-term annual contract extension, or pay up to $500 for a lifetime subscription, representatives said. They added that there is no plan to change the standard monthly subscription price.

An official spokesman for Sirius, one of the largest U.S. subscription services with about 19 million subscribers, did not return calls for comment.

Sirius agreed with the U.S. Federal Communications Commission to not raise for three years the retail prices on its basic $13 per month subscription package, and other programming packages such as a la carte; "best of both"; its news, sports, and talk package; and a discounted family-friendly programming package.

Increased revenue derived from the new charges and long-term commitments would come at a crucial time for Sirius XM, which entered the year with about $1 billion in debt due to mature in 2009.

According to Standard & Poor's, Sirius has $175 million of convertible notes maturing next month, $350 million of secured bank debt due May 2009, and $433 million in convertible notes due December 2009.

Last month, Sirius Chief Executive Mel Karmazin said that while the tight credit market has made it difficult to get optimal terms, he is confident the company can refinance the debt. He also forecast double-digit revenue growth for Sirius in the fourth quarter.

kingair is offline  
Old 02-05-2009, 08:48 AM
  #2  
Senior MemberCaptains Club Member
 
Join Date: Jan 2004
Location: Sharon Springs, NY
Posts: 4,515
Default Re: Sirius to raise prices

Oh great, got that email yesterday trying to lock me into the old rate with a longer commitment. Good thing the Yankees are on XM and I travel alot. I'd go back to terrestrial radio in a hartbeat. The programming sucks since the switch.
Mike Boehler is offline  
Old 02-05-2009, 08:52 AM
  #3  
Senior MemberCaptains Club Member
 
Join Date: Mar 2003
Location: San Francisco Bay Area
Posts: 8,782
Default RE: Sirius to raise prices

I looked into the lifetime subscription offer and posted my findings in the other recent XM thread.

With the added fee's, it just didn't make financial sense to me.

I do have a second portable unit, so if they decide to raise the price on that, it would affect my account.

I'm all for the concept of sat radio, but the costs and inconveniences (programmng changes, commercials and higher prices) might cause me to have a change of heart.
ABoater is offline  
Old 02-05-2009, 08:58 AM
  #4  
Senior Member
 
Join Date: Dec 2006
Posts: 680
Default Re: Sirius to raise prices

I have it in my cars and vans, and use it from time to time at my computer, but I refuse to spend any more money on this. I just bought, and am waiting to receive, an AM/FM Sony transistor radio from Amazon - currently $ 8.96. Just add batteries. It will be good enough.
meatdog is offline  
Old 02-05-2009, 10:28 AM
  #5  
Senior MemberCaptains Club Member
 
Join Date: Jul 2005
Location: St. Paul, MN
Posts: 1,417
Default Re: Sirius to raise prices

Double-digit growth?

That's hilarious.
davepen is offline  
Old 02-05-2009, 10:30 AM
  #6  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Nov 2005
Location: Central Jersey
Posts: 7,961
Default Re: Sirius to raise prices

Great marketing minds at work. In tough times, raise prices on a luxury people can easily do without.
t3rockhall is offline  
Old 02-05-2009, 11:38 AM
  #7  
Senior MemberCaptains Club Member
 
Join Date: Aug 2002
Location: MA
Posts: 3,220
Default Re: Sirius to raise prices

I have 3 subscriptions and I always listen on line when at work. I am not happy they are now going to charge for something that has been free all along.
Tuna Colada is offline  
Old 02-05-2009, 11:51 AM
  #8  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2001
Posts: 11,836
Default RE: Sirius to raise prices

I have already posted a rant about XM/Sirius.....they can pound sand. Change the format on the XM channels for the worse and raise rates. Sounds like a recipe for a really successful company......
Wolakrab is offline  
Old 02-05-2009, 11:54 AM
  #9  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2001
Posts: 11,836
Default RE: Sirius to raise prices

kingair - 2/5/2009 11:39 AM

......he is confident the company can refinance the debt. He also forecast double-digit revenue growth for Sirius in the fourth quarter.
I would like to have some of whatever he is smoking......I need to totally disconnect from reality........
Wolakrab is offline  
Old 02-05-2009, 12:02 PM
  #10  
Senior MemberCaptains Club Member
 
Join Date: Feb 2007
Location: C Dock Rum Club, FL
Posts: 6,153
Default Re: Sirius to raise prices

Tuna Colada - 2/5/2009 2:38 PM

I have 3 subscriptions and I always listen on line when at work. I am not happy they are now going to charge for something that has been free all along.
Check out Pandora. It's free.
23Dorado is offline  
Old 02-05-2009, 12:07 PM
  #11  
Senior MemberCaptains Club MemberPLEDGER
Thread Starter
 
Join Date: Oct 2004
Location: North Myrtle Beach SC
Posts: 8,045
Default Re: Sirius to raise prices

23Dorado - 2/5/2009 3:02 PM

Tuna Colada - 2/5/2009 2:38 PM

I have 3 subscriptions and I always listen on line when at work. I am not happy they are now going to charge for something that has been free all along.
Check out Pandora. It's free.
I hope it does, long enough for me to get my money back from the purchase of 2000 shares.
kingair is offline  
Old 02-05-2009, 01:30 PM
  #12  
Senior MemberCaptains Club Member
 
Join Date: Aug 2002
Location: MA
Posts: 3,220
Default Re: Sirius to raise prices

23Dorado - 2/5/2009 12:02 PM

Tuna Colada - 2/5/2009 2:38 PM

I have 3 subscriptions and I always listen on line when at work. I am not happy they are now going to charge for something that has been free all along.
Check out Pandora. It's free.
I checked that out and it looks pretty cool. Thanks.
Tuna Colada is offline  
Old 02-05-2009, 01:30 PM
  #13  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2004
Location: Not in Texas
Posts: 10,213
Default Re: Sirius to raise prices

Pandora is really good stuff!!! But it is, in part, the cause of the problems Sirius is having:


EchoStar Corp. reportedly has been buying up a sizable stake in the debt of Sirius XM Satellite Radio Inc., prompting speculation of a potential takeover. ...

Sirius and XM Satellite Radio combined last year in an effort to create one strong satellite radio provider in the U.S. ...

Competition from devices such as the iPod as well as Internet radio has also hurt. ...


Eyeball is offline  
Old 02-05-2009, 05:54 PM
  #14  
Senior MemberCaptains Club Member
 
Join Date: Apr 2004
Location: SE Florida
Posts: 3,895
Default Re: Sirius to raise prices

kingair - 2/5/2009 3:07 PM

23Dorado - 2/5/2009 3:02 PM

Tuna Colada - 2/5/2009 2:38 PM

I have 3 subscriptions and I always listen on line when at work. I am not happy they are now going to charge for something that has been free all along.
Check out Pandora. It's free.
I hope it does, long enough for me to get my money back from the purchase of 2000 shares.
I hope for your sake that Sirius-XM stock goes up. Actually I'd really like to see the company take off. I have been a subscriber for about 3 years(?) but since the merge, I am not as crazy about the stations. Not to mention the DJs won't shut up at times. I don't want to listen to them talk, shut up and play friggin music. I may be dropping my subscription. I find myself listening to cds more and more.
bstnsportsfan is offline  
Old 02-05-2009, 06:06 PM
  #15  
Senior MemberCaptains Club MemberPLEDGER
Thread Starter
 
Join Date: Oct 2004
Location: North Myrtle Beach SC
Posts: 8,045
Default Re: Sirius to raise prices

Does anyone listen to Howard Stern? I got XM right after 9-11 to listen to the news while I was deployed to ground zero in NY. Now I have it free in my Aspen for a year.
kingair is offline  
Old 02-05-2009, 11:31 PM
  #16  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2004
Location: Not in Texas
Posts: 10,213
Default Re: Sirius to raise prices

kingair - 2/6/2009 10:06 AM

Does anyone listen to Howard Stern?

No. Who is Howard Stern? Never heard of him.

Hey, if you enjoy XM/Sirius, indulge yourself. But in the grand scheme of audio, sat radio is in the toilet. You are better off listening to Howard on a syndicated analog FM broadcast, better fidelity. Even better is the free digital FM.

Eyeball is offline  
Old 02-06-2009, 02:56 AM
  #17  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 18,500
Default Re: Sirius to raise prices

Won't affect me, still listen to my local sports talk radio show when in the car and at the office

I have looked into sat radio but just do not think it would be beneficial to me or woth the money
tprice is offline  
Old 02-06-2009, 04:21 AM
  #18  
Senior MemberCaptains Club Member
 
Join Date: Jul 2004
Location: South East Pa
Posts: 9,310
Default Re: Sirius to raise prices

I'm glad I bought the life time contract 4 years ago for $299.00
FASTFJR is offline  
Old 02-06-2009, 06:20 AM
  #19  
Senior MemberCaptains Club Member
 
Join Date: Oct 2002
Location: West Chester, PA
Posts: 2,933
Default Re: Sirius to raise prices

Sirius/XM is still worlds better than terrestrial radio. Although a luxury, what are we talking here, under $20 a month? We pay $5 for a starbucks coffee, $2 for a bottle of water, pay for internet/cable and think $15 a month or so for satellite radio is not worth it? I think you guys are nuts for complaining, over 150 channels, NFL, MLB, NBA, CNN, CNBC, and far few commercials then terrestrial radio. I only listen to about 3 channels and still think it's the best deal going.

--JK
SeaNile is offline  
Old 02-06-2009, 09:57 AM
  #20  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2004
Location: Not in Texas
Posts: 10,213
Default Re: Sirius to raise prices

SeaNile - 2/6/2009 10:20 PM

Sirius/XM is still worlds better than terrestrial radio.
No, it is not. It has never been as good as terrestrial radio. For audio quality, it is literally the worst quality audio of all mass distributed media. You can take 2nd, 3rd, 4th generation copies of mediocre MP3 files and they will have better audio fidelity than sat radio. Sat radio receivers bias the audio to make you think you are hearing something you aren't. Listening fatigue can set in quickly if you listen to sat radio through headphones.

Sat radio excels as low level, background music, competition for Muzak.



Eyeball is offline  

Thread Tools
Search this Thread