Covid-19 forced millions of people into shutdown in early March, starting a home gym trend which saw many americans canceling their gym memberships.
A trend Peloton is hoping to capitalize on with its latest offerings. The seven-year-old fitness tech company, which has attracted more than a million paying subscribers with its blend of live-streamed and on-demand classes, was already a pandemic success story. Today it’s officially revealing its long-rumored new products: a new indoor cycling bike; a less expensive version of its old bike; a cheaper treadmill; a new series of bootcamp classes; and some software updates, including integration with Apple’s GymKit.
The subscription cost of Peloton, where the company typically sees a healthy gross margin, is staying the same: $39 per month for “all access” to Bike and Tread content and app-based workouts, and $13 for classes streamed via mobile apps only. It’s arguably this subscription content that’s more important than any hardware updates to an exercise bike or treadmill, any swivel screen or slat-belt. It’s the Peloton instructors—their personalities, catchphrases, and playlists—that tend to win people over.
