Peloton Announces a Return, Reveals Shift in Strategy Towards Content Creation
Peloton, the popular fitness brand known for its interactive exercise equipment, is set to relaunch its brand and app, aiming to drive top-of-the-funnel awareness and better communicate its value proposition. The relaunch will also engage new categories of customers and serve as a significant revenue contributor for the business.
The Peloton App, which currently offers guided meditations, yoga, strength training, running, and walking classes, will be re-introduced with a tiered membership structure. While specific details about the new structure are yet to be disclosed, it's expected to follow a common practice in the industry, offering varying levels of content access, exclusive features, or enhanced support across different tiers.
One key aspect of Peloton's brand community is the exclusive content it provides. Members can access a library of fitness classes, receive guidance from professional instructors, and potentially enjoy new or exclusive content not available at lower tiers. The app also integrates with other fitness hardware or apps, such as the Hydrow rower, and offers social features that allow users to connect, share progress, participate in challenges, or join groups based on shared fitness goals.
In addition to fitness hardware, Peloton might expand its offerings to include mental wellness content, nutrition advice, and social events. These services, which only require a smartphone and Peloton membership, are speculative but based on common practices in the fitness app industry.
Peloton's instructors have gained popularity among the "workout from home" crowd, with some becoming micro-celebrities. The Peloton Bike and its sibling hardware will continue to be shown off in commercial settings, complementing the app's focus on content within the app rather than content linked to fitness hardware.
Interestingly, 62% of Peloton's active members participate in non-cycling activities. This indicates that Peloton's fitness content, which includes strength, meditation, and outdoor running, resonates with a broad audience. Peloton has also seen success selling refurbished bikes and promoting its bike leasing program.
The Peloton App's current subscription plan starts at $13/month. As the relaunch approaches, it's expected that Peloton will offer bundles according to user interaction with the platform, providing a more personalised experience for its members. The app will serve as a mobile gateway to fitness content, making Peloton's workouts more accessible than ever.
Sources: [1] https://www.engadget.com/peloton-app-tiered-membership-150024390.html [2] https://www.businessinsider.com/peloton-app-tiered-membership-2021-8 [3] https://www.theverge.com/2021/8/18/22636501/peloton-app-tiered-membership-launch-2021 [4] https://www.cnbc.com/2021/08/18/peloton-is-launching-a-tiered-membership-structure-for-its-app.html [5] https://www.peloton.com/us/en/features/community [6] https://www.peloton.com/us/en/bike/refurbished/ [7] https://www.peloton.com/us/en/bike/financing/ [8] https://www.peloton.com/us/en/app/ [9] https://www.peloton.com/us/en/blog/post/peloton-app-tiered-membership-launch/ [10] https://www.peloton.com/us/en/blog/post/peloton-app-workouts/ [11] https://www.peloton.com/us/en/blog/post/peloton-app-statistics/
- As Peloton prepares to relaunch its app, the tech industry eagerly anticipates the anticipated new membership structure, which may follow the common practice of offering varying levels of content access, exclusive features, or enhanced support across different tiers.
- The Peloton App, with its extensive library of fitness classes and social features, will continue to blur the line between tech and lifestyle, potentially expanding into areas such as mental wellness content, nutrition advice, and social events in the future.
- The popularity of Peloton's instructors, who have gained micro-celebrity status among the "workout from home" crowd, underscores the importance of technology in transforming sports into an accessible, personalized, and engaging part of everyday life.
