NEW YORK, United States — Peloton, the company best known for disrupting the US fitness market with its high-performance, at-home spin bikes has unveiled a new app offering streamed, instructor-led cycling, running, bootcamp, cardio and yoga classes.
Targeting a more mainstream market, outside of America’s wellness hotspots, the new digital service, priced at a more accessible $19.49 per month, will enable multiple people in one household to do different workouts at the same time, choosing from over 10,000 options.
“Our goal at Peloton has always been to ultimately offer more than just indoor cycling, and this new digital experience will introduce people to the incredible breadth of fitness content our state-of-the-art broadcast production team and expert instructors create every day,” commented William Lynch, president of Peloton.
“Now, with a Peloton digital subscription, your entire household can take whatever kind of workout they’re interested in, whenever they want, for only $19.49 a month, less than the cost of one boutique fitness class.”
Peloton’s new digital experience also serves as the debut of the brand’s Outdoor content, through which Members can enjoy high-energy running and walking classes, without having to own any fitness equipment –– currently one of the brand’s bikes sell for $1,995, with monthly class subscriptions priced at $39.
By expanding its reach beyond the bike, Peloton hopes to snag a much larger share of the market and avoid losing customers who are looking for more variety when it comes to fitness options.
“Our bike business is exploding in a good way,” Lynch told CNBC.
“This is just about our path to get as many people engaging with Peloton content and classes as possible, and we’re going to do that not only in the US, but globally,” he added.
With Peloton Digital, Peloton members will now be able to access entirely new content ranging from running, walking and bootcamp classes filmed live at the Peloton Tread Studio in Manhattan to audio-only outdoor running and walking classes, ranging from 20 to 60 minutes in length. Similar to Peloton’s video content, where instructors do the entire workout with users, the Outdoor content will be recorded live by Peloton’s roster of elite instructors while they are physically running or walking, resulting in a more authentic listener experience.
According to Peloton, the service will launch with over 175 Tread Studio running and bootcamp classes, 15 outdoor running classes, thousands of live and recorded studio cycling classes, as well as yoga, strength, stretching, cardio workouts and more, with new content being added to the library on a regular basis.
Currently, Peloton members complete 36 percent of their workouts with Peloton, Lynch told CNBC. The digital offering will boost that number to more than 60 percent, he predicts.
For the time being Peloton Digital can be accessed in the US and Canada. However, starting this Autumn the service will also be made available to UK residents, as the brand kickstarts plans to deliver its experience to a larger audience worldwide.
The brand has also announced plans to begin shipping its bikes to the UK and open a studio in London, to provide live and on-demand classes with British instructors.
Peloton will be joining the Welltodo Summit on 28th June as an official partner. To hear more industry insights, business strategies and advice from the brand, you can purchase your tickets here.