• Loading stock data...
Sunday, June 16, 2024

Peloton Is Ready To Row

  • Peloton has officially teased its new rowing machine, adding to its lineup of bikes and treadmills.
  • Peloton is dipping its toe into a space that could boast major financial potential.
Peloton

Peloton has officially teased its new rowing machine, adding to its lineup of bikes and treadmills.

The announcement comes one week after the fitness company released third-quarter earnings, reporting $964.3 million in revenue but missing analysts’ estimates of $972.9 million.

Official details of the launch weren’t disclosed, only that the machine is “coming soon.” 

Reports of a Peloton rowing machine have been surfacing since 2018.

Peloton has been trying to turn its business around since CEO Barry McCarthy took over in February.

  • Earlier this month, the company signed an agreement with JPMorgan and Goldman Sachs — the companies that led Peloton’s IPO — to borrow $750 million in long-term debt.
  • Peloton announced in April it would be raising its subscription prices in the U.S. and Canada while lowering its hardware prices.
  • McCarthy also said during the company’s earnings call that third-party retailers would likely be in the mix soon.

New Fitness Trend?

With the details of its new rowing machine, Peloton is dipping its toes into a space that could boast major financial potential.

Peloton joins Hydrow, for example, in the connected rowing space. In March, Hydrow raised $55 million in a Series D funding round led by Constitution Capital. The company now has more than $255 million in total funding.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Sponsored

How Duracell is Making Fans Fall in Love with F1 Racing

Nobody expected this household brand to become F1’s newest darling.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.
podcast thumbnail mobile
Front Office Sports Today

How the US Open is Designed for Drama

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Peloton

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.
UBS estimates that pickleball injuries have cost Americans $377 million this year.
June 27, 2023

Pickleball Injuries Could Cost U.S. Nearly $400 Million Per Year

UBS estimates that pickleball injuries have cost Americans $377 million this year.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
June 1, 2023

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
The huupe "smart" basketball hoop in a gym.
May 23, 2023

Can Basketball Hoops Become Part of the Smart Gym Ecosystem?

Huupe is selling its product to professional and college basketball teams.