![]() Witz said she was aware that some on-demand audio services like Apple Music and Spotify are priced lower than what SiriusXM Pandora offers, but that the company is laser focused on reaching younger customers with better technology and more live programming. “It was better for revenue, so we’re constantly looking to adjust, so we can build overall revenue growth,” she said. Since raising the prices across some of its promotional packages, Witz said the company saw a slight increase in churn - customers who actually go through with canceling their service - but that the increased prices were better for the company’s bottom line. Those days may soon be coming to an end, Witz said, as the company looks to recoup costs associated with its investments. The retention prices are generally much lower than the advertised price of a subscription - one package costs as little as $6 a month with the music royalty fee included - and customers are able to lock in those prices for anywhere from six months to a year. Some savvy customers have been able to take advantage of special retention rates that are offered to subscribers who contact customer service with a threat to cancel their subscription. Most packages also include an additional music royalty fee that can tack over $3 a month to the cost of the service. Recently, the company also introduced a “Music Showcase” package that excludes sports, Howard Stern and comedy channels at a price of $13 a month. SiriusXM offers several different programming packages with a variety of prices, including a general music and entertainment package that costs $18 a month and a premium package that includes sports play-by-play and access to Howard Stern’s content for $23 a month. The affirmation was made by SiriusXM Pandora’s Chief Executive Officer Jennifer Witz at an investor conference last week, where she affirmed that the company adjusted the rate of some of its promotional packages within the last year. SiriusXM Pandora is exploring the idea of increasing the cost of its various satellite and streaming radio tiers as the company rolls out new hardware and integrates additional features into the service. SiriusXM Pandora Chief Executive Officer Jennifer Witz.
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