Sirius Monthly Service Fees to be $12.95
By David Dritsas
Consumer-available satellite radio moves closer, but the competitive landscape is shifting slightly. In a press release issued last week, Sirius Satellite Radio announced a $500 million dollar shelf registration with the Securities and Exchange Commission. But also in the release it was noted that the monthly subscription fee for the company's service is now be priced at $12.95, up from a previous $9.95 fee, a price that XM Satellite Radio, Sirius' only current competitor, also has been advertising.
Sirius claims that according to its own consumer research, $12.95 is a price point that consumers are willing to pay for their service. "On the financial side of things, of course a higher monthly subscription fee will also have a significant positive impact on our financial position." said Mindy Kramer, spokesperson for Sirius added.