As Peloton seemingly keeps pacing the exploding at-home fitness and wellness industry, its chief financial officer, Jill Woodworth, has plenty of optimism for its future. Last month, Peloton reported its first-ever quarterly profit — $89.1 million on $607.1 million in revenue.
Gyms are struggling through the pandemic, but more than 180 million people still pay monthly fees to physical workout facilities. Compare that to the 3.1 million paying Peloton members and Woodworth sees a quick path to more growth.
Peloton will continue to expand its offerings on its connected-fitness platform and look to smart TV integrations — like Apple TV — to attract even more users. Along with expanding offerings beyond cycling and running, Peloton is working on getting more accessible: nearly 50% of bikes sold in the 2020 fiscal year were to households making less than $100,000.
Peloton’s Shifting Consumers:
29% of Peloton member households made under $100,000 in 2014.
46% of Peloton member households make under $100,000 in 2020.
16% of Peloton members were younger than 35 in 2014.
31% of Peloton members are younger than 35 in 2020.