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Saturday, May 18, 2024

Peloton Tests New Pricing Model, Integrates With Apple Watch

Peloton
Peloton/Design: Alex Brooks

Peloton’s downhill stretch could end soon as the company shifts gears, testing new prices, and releasing products roughly a month after Barry McCarthy took over as CEO.

The at-home fitness company will begin a pricing pilot on Friday allowing customers to pay a monthly fee that covers both their workout equipment and access to on-demand fitness classes. 

The fees will range between $60 and $100 per month in Texas, Florida, Minnesota, and Denver, and the option will only be offered in Peloton’s brick-and-mortar stores or fitness studios. If users cancel, the company will take back the bike with the addition of a delivery fee.

  • Peloton’s original bike runs for $1,745 including delivery and setup fees.
  • The Bike+ goes for $2,495.
  • The company extended its free at-home trial from 30 days to 100.

Peloton also announced a new Apple Watch integration for its Bike, Bike Plus, and Tread this week. The watch can record Peloton workouts, show Peloton’s Strive Score feature, and more easily log Peloton workouts in the app, among other features.

A Winding Road

The announcements come at an ideal time for the company. In the last few months, Peloton warehouse workers revealed the company knowingly sent tarnished bikes to buyers, delayed the opening of a factory, lowered its projected apparel revenue, and announced plans to cut 2,800 jobs.

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