Peloton could soon offer a new way to get its bike and fitness programming.
Rick Broida/CNETPeloton will start offering its bike and fitness programming subscription for a single monthly fee, the company said Thursday. Peloton previously sold its exercise bikes and programming separately.
The new package will be tested in four cities in the US for a limited time and cost from $60-$100, according to the Wall Street Journal, which earlier reported the news. Importantly, the bundle can be canceled at any time which could entice new customers hesitant to purchase a bike outright, the Journal reported. Peloton’s cheapest bike, excluding delivery, is $1,495. Its programming subscription is $39 month.
The company is using the pilot program to explore “various pricing models and options for new members” as it “sets course for the next phase of its evolution and growth,” Peloton told CNET.
Throughout the COVID-19 pandemic, Peloton’s business selling bikes and treadmills boomed. As sales slumped in later stages of the pandemic, Peloton is in the midst of corporate upheaval and uncertainty. In February Peloton laid off 2,800 employees and changed CEOs. At the same time there was reported interest in selling the company.
Peloton’s CEO says he’s been given time to turn the company around before the board considers selling, the Wall Street Journal reports. Beyond testing the subscription model, he says the company will focus less on equipment and more on its software.
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