Peloton has been keen to remind everyone that it is not just a “bike company.” To do so, the company today announced the launch of three new app-only memberships to highlight its range of fitness content — no expensive Peloton machine required. It’s also revamping the app’s overall design, including Peloton Row workouts for the first time, and introducing Peloton Gym, a new type of strength-training content that offers written workouts and video demonstrations.
The three new memberships will differ in price and content access. Peloton App Free Membership is, as the name suggests, free. It will include access to 50 classes across 12 of the 16 types of Peloton exercises. The four types that will not be included are the Row, Row Bootcamp, Bike Bootcamp, and Tread Bootcamp. Chapters, which exclude live content, will be rotated regularly to keep things fresh. Peloton spokesman Ben Boyd said, regarding how often classes will be rotated the edge That the pace of modernization is not yet fully determined.
For the paid tiers, the Peloton App One membership will be the medium option and will keep the previous cost of $12.99 per month or $129 for the yearly cost. This level will give users access to thousands of on-demand classes on nine types of exercise, including strength, meditation, outdoor walking, and yoga. An App One subscription also gives users access to three equipment-based classes per month (eg treadmill, rowing, cycling) and will include live classes, challenges, programs, and combos. The premium tier will be called Peloton App Plus and will cost $24 per month or $240 per year. App Plus membership includes unlimited access to all classes, except Peloton’s Lanebreak and Scenic options, which link to company hardware.
“If we do our job today, marketing will introduce the company to someone who doesn’t really know us or think we’re a bike company. They can get all that stuff they read about and download it for free from the app,” says Boyd. Users will not have to provide a credit card to get started on the free tier.
These options bring the total to five different subscriptions. The other two are attached to the peloton equipment. The All-Access plan, required for Peloton bike, treadmill, and row owners, costs $44 per month and gets you access to everything Peloton has to offer. It is also separate from the mentor membership. This is for Peloton Guide strength training camera owners, costs $24 per month, and content-wise, it’s the same as App Plus. The main difference between these two hardware-centric memberships is that the guide includes different metrics and integrations, such as counting delegates.
For existing Peloton app subscribers, Boyd says they’ll be automatically upgraded to an App Plus membership with no price change through December 5th, 2023. At that time, users will be able to choose whether they want to pay the increased price or move up to a cheaper tier.
The idea, Boyd says, is to give users a variety of options, as well as the ability to tailor the membership according to the season. For example, summer is generally the most challenging quarter in the Peloton, as it’s the time when many people leave the gym (and, by extension, their equipment) in favor of exercising outdoors. In this case, members have the option to upgrade to a more premium tier during the winter and opt for a free membership when the weather turns cooler.
Meanwhile, the company is also introducing a new feature called Peloton Gym, which is similar to what you’ll find in other strength training apps. Instead of following instructor-led strength classes, you’ll have to display exercises written on the floor accompanied by video demonstrations of specific movements (eg, how to do Bulgarian squats.) The idea is to enable users to navigate. Workouts at their own pace – And Listen to their music while they are at it.
While new levels are rolling out starting today, don’t worry if you haven’t seen them yet. Boyd says the update is currently rolling out to all five global markets for Peloton over the next few days.
Overall, the move is par for the course with CEO Barry McCarthy’s strategy of emphasizing Peloton’s content as a “real” product on its machines. Case in point, the Peloton version notes that more than half of all classes taken on the app have nothing to do with cycling. Since taking office, McCarthy, who cut his teeth with subscriptions to Netflix and Spotify, has introduced a number of new business models for the beleaguered connected fitness company. This includes a rental model for Peloton bikes, as well as the ability to purchase through third-party retailers and purchase discounted and refurbished bikes. As for whether it will bear fruit, we have to see. Although the company has recently made strides towards recovery, it has not yet regained its profitability, with share prices hovering around $7 compared to a high of $162 in December 2020.
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