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Tuesday, February 17, 2009

Struggling, Siriusly

A couple of weeks ago I got this email from Sirius radio saying that "We are offering select subscribers like you, who have multiple subscriptions, a special opportunity to lock in the current low rate on their additional radio subscriptions." I have three receivers currently connected to Sirius and pay 6.99 per month for the two extra receivers. They are increasing rates and attempting to collect contract fees in advance - because they're facing bankruptcy, which you can read about here. So instead of just asking me to sign a contract (which I'd do in a minute, I've had Sirius radio for almost 6 years now), they want me to pay at LEAST one year in advance, but wouldn't it be better, a huge savings, to pay two or three years in advance? If I don't choose to pay in advance, my rates go up and I lose the option to listen to music online.

True, if I do the math - doing at least one year will save about $90, and then the rates will go up anyway, they're saying, unless I pay for more years in advance. But I don't like having my arm twisted to do anything. Especially when it involves my money! Besides, it's not like there's real competition out there. Sirius merged with XM already! In summary I have three choices:

1. Pay one year in advance (about $225.00)
2. Pay up to three years in advance (uh... $675)
3. Do nothing and see an additional $4 per month, and perhaps other fees changing without having locked in anything? That's an unknown variable.

So, Internet... what would you do? WWID (What would Internet Do) Heh!


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3 comments:

Angi said...

we have 3 XM receivers but have yet to be contacted about lockin in or anything. we've had ours since 2004 - and Natalie love the 20 on 20. then when sirus and xm merged we were offered some additional channels which was cool, but we can't go without satelite radio....too many long drives for Ruben especially, so I hope this won't be the end. I think if they just dump Howard and his huge contract they might actually be ok!

Nik said...

Well, which option benefits you most in the long run?

BTW, WWID, genius! I dig it. lol

JoeinVegas said...

What happens if they go bankrupt, and somebody else buys them? Would the contracts still be good or would you be out the money? Probably out, in bankruptcy I think contracts are cancelled, and as unsecured creditor you lose.