Sirius XM Passing Music Royalty Rate Hike on to Subscribers

Authored by Mark Hefflinger on June 26, 2009 - 10:32am.

New York - Sirius XM (NASD: SIRI) plans to pass on higher royalty rates it has to pay to broadcast music to its subscribers in the U.S., in the form of a $1.98 per month fee increase for primary subscriptions and $0.97 per month fee for multi-receiver subscriptions, SiriusXMNews reported.

"This fee will be used directly to offset increased payments from SIRIUS XM to the recording industry," the company wrote in an email to subscribers.

"Unfortunately, we cannot control the Copyright Royalty Board's rate increase, but we can offer you ways to save on your subscription. The longer your subscription, the more you save!"

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http://sirius.com/usmusicroyalty