New York - Satellite-radio
subscriptions will go up in price on Jan. 1, SiriusXM said in announcing its
On the first day of the new year, the base
price of Sirius and XM Select service will go from $12.95 to $14.49 per month.
The company will also "adjust prices on many of our other programming packages,"
said CEO Mel Karmazin. "This is the first price increase on our basic service
packages since the addition of the NFL, NASCAR, Howard Stern, Martha Stewart
and many college sports to our programming line-up," he said.
For 2012, SiriusXM forecast 10 percent revenue
growth to about $3.3 billion, adjusted EBITDA growth of 20 percent to about $860
million, and growth in free cash flow of 75 percent to about $700 million.
Despite "considerable economic uncertainty,"
he said, the company is reaffirming its 2011 forecasts, which call for net
subscriber additions of about 1.6 million, revenue of about $3 billion, adjusted
EBITDA of about $715 million, and free cash flow of almost $400 million.