{"id":9432,"date":"2023-05-24T17:36:21","date_gmt":"2023-05-24T17:36:21","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/peloton-repositions-itself-as-more-than-a-bike-company\/"},"modified":"2023-05-24T17:36:21","modified_gmt":"2023-05-24T17:36:21","slug":"peloton-repositions-itself-as-more-than-a-bike-company","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/peloton-repositions-itself-as-more-than-a-bike-company\/","title":{"rendered":"Peloton repositions itself as \u2018more than a bike company\u2019"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">3 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1684947567\/news\/text_to_speech\/peloton-fitness-rebrand-bike-gym-membership_bs4krm.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li>Hoping to change the perception of its brand, Peloton on Tuesday unveiled a new brand identity along with an expanded range of tiered content memberships and a new content feature, according to a company press release.\u00a0<\/li>\n<li>The fitness company released three new Peloton app content membership tier options,\u00a0in addition to the brand\u2019s two membership tiers for hardware owners. The three new tiers include: Peloton App Free with over 50 classes available at no cost;\u00a0Peloton App One with access to thousands of classes across various modalities and up to three equipment-based cardio classes for $12.99 per month; Peloton App+ with unlimited access to Peloton\u2019s library (not including Lanebreak or Scenic classes) and thousands of equipment-based cardio classes for $24 per month. Existing digital-only content customers will see price changes go into effect Dec. 5, 2023.<\/li>\n<li>Peloton\u2019s new brand campaign showcases users of all ages and fitness levels utilizing the brand\u2019s various offerings beyond its in-home bike hardware. The updated brand identity also includes a new content feature, Peloton Gym, in which \u201cworkouts are written-out, demoed in a supporting video, and designed to be done at the user&#8217;s own pace.\u201d<\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p>After teasing the relaunch just a few weeks ago, Peloton is aiming to expand its reputation beyond its hardware products, such as its bike, treadmill and rower machine.<\/p>\n<p>&#8220;With this brand relaunch we&#8217;re reflecting the vibrancy and fullness of everything Peloton has to offer to everyone. We&#8217;re shifting perceptions from in-home to everywhere, fitness enthusiasts to people at all levels, exclusivity to inclusivity across all Peloton Members present and future,&#8221; Leslie Berland, Peloton&#8217;s chief marketing officer, said in a statement. &#8220;Our Instructors and Members live and breathe the true Peloton experience every day. We&#8217;re excited to bring that energy and inspiration out into the world.&#8221;<\/p>\n<p>Peloton\u2019s push to be known as \u201cmore than a bike company\u201d is partly based on data about its existing customer base. According to data from the company\u2019s latest earnings report, over half of workouts were not cycling-related and the most popular modality was strength training.\u00a0<\/p>\n<p>The company\u2019s third-quarter earnings earlier this month showed total revenue dropped 22% year over year to $748.9 million. Missing its expectations, total gross margin was 36.1% while net loss narrowed from $757.1 million to $275.9 million.\u00a0<\/p>\n<p>\u201cWe\u2019re primarily known as a bike company, but the behaviors of our members extend well beyond that into many different categories of exercise and a large percentage of folks use no hardware at all,\u201d CEO Barry McCarthy said on a call with analysts at the time.\u00a0\u201cWe haven\u2019t done a very good job of communicating that to prospective members and we\u2019re looking to improve upon that.\u201d<\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Hoping to change the perception [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-9432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9432"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/9433"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}