NBC Could Get In On College Football Playoffs
A fitness brand with strong associations with the 1980s is in better shape than ever due to the well-timed launch of its streaming service.
Jazzercise brought in $73 million in revenue last year. The franchise-based workout class company was able to leverage its streaming service, launched in September 2019, to pivot during the pandemic.
- Jazzercise On Demand exploded from 4,000 members to 60,000 from the start of March 2020 to the end of April 2020.
- The $24.99 monthly service has since settled down to 22,000 subscribers.
- Globally, the company has 8,000 franchises, teaching 32,000 classes per week. Teachers are offered equity in their franchises.
Pandemic Recovery
The U.S. gym and health club industry was slammed in 2020, dropping 18.6% in size from $40 billion in 2019 to $33.7 billion. The market has partly recovered, reaching an estimated $36.6 billion this year.
Around 25% of clubs and gyms closed due to the pandemic. A bill that would have provided around $2 billion in support to those facilities, part of a larger small-business support package, failed to make it through a filibuster by 43 Republican senators.
