After nearly two years of deflation aggravation by a Unsuccessful response risks a vicious circle And Rusty bikesToday, Peloton announced that it is relaunching its brand in an effort to make more money. The company plans to focus more on fitness content rather than hardware Application Tiers will be offered with different plans rather than a one-size-fits-all membership geared towards people who buy equipment.
in letter To shareholders, CEO and President of Peloton, Barry McCarthy, wrote:
Later this month, we’ll be rebranding to better communicate the brand’s value proposition, and we’ll reintroduce the Peloton app with a tiered membership structure as a mobile gateway to our amazing fitness content from strength and meditation to outdoor running. Our goal in relaunching the app is to engage new categories of customers, drive awareness at the highest level of Peloton’s funnel, and become a meaningful contributor to our business revenue.
This executive says that the Peloton app will be restructured to focus on in-app content rather than content related to fitness devices. There’s no word on the new pricing level yet, but it’s easy to imagine Peloton will offer packages according to how its users interact with the platform. Peloton notes in the release that 62% of its active members engage in non-bike-related activities, while 38% of all workouts involve “no Peloton hardware of any kind.” It may mean that the company is looking at A more affordable subscription price for people who don’t have a bike and want a little more—guided meditations, yoga, strength training, running and walking classes that only require a smartphone and a Peloton membership. The current subscription plan starts at $13 per month, which is cheaper than most other on-demand fitness and yoga services. It’s more affordable than a stationary bike, which starts at $1,500.
The company will still be Continue to focus on hardware deployment. the Peloton Bike + It will continue to display its sister devices In commercial settings, such as hotels, to create brand awareness and a network of devices available to active Peloton subscribers to stay on track as they travel. The company has also seen some success selling refurbished bikes and promoting its bike rental program.
I’ve always believed that the strength of Peloton lies in its fitness content. Its trainers have become minor celebrities among the “workout from home” crowd — Cody Rigsby, a favorite of millennials, was even Dancing with the stars several seasons ago. It’s nice to see the company tend to what works.
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