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SiriusXM To Raise Subscription Prices

9/14/2011 02:56:09 PM Eastern
New York - Satellite-radio subscriptions will go up in price on Jan. 1, SiriusXM said in announcing its 2012 forecast.

 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.
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