Time to put your pedals to the metal, the Peloton is coming to town. Made famous by the ad in which a husband gifts his wife a Peloton bike for Christmas — which Ryan Reynolds quickly mocked — that didn’t put a dampener on the company’s success. In fact, it has 4.4 million members across the US, UK and Germany, according to Investor’s Business Daily.
The Drum reported that in the first quarter of 2021, sales surged by 232% — people are turning to at-home workouts and gym accessories; a trend expected to outlast the pandemic. And the company is hoping this continues — it’s aiming for 100 million subscribers (“a reasonable goal.”)
Why such a lofty goal? According to CEO John Foley, there are almost 200 million gym-goers in the world who are “paying hard money, month after month, to access what we believe to be inferior fitness equipment in an inferior location”.
They’ve taken a few steps to reach this goal. Ad campaigns have focused on “real riders”; there are coaching talents who are “names” in their own right; app and fitness content is accessible via Roku TV, Amazon Fire TV, Apple TV and Android TV. Oh, and Beyoncé — yes, the Beyoncé — is going to curate classes for Peloton’s subscription service; it’s a multi-year partnership.
Another step they’ve taken? Expanding to Australia. Yep. Peloton is pedalling its way to Australian shores. Specifically, it’s bringing over the original Peloton bike, the Peloton Bike+, and the Peloton App.
The App isn’t just cycle focused, it features content across “10+ fitness disciplines” — including running, cardio, strength, yoga and more. There are “thousands of game-changing workouts” available, including “real-time motivation” — live classes streamed from New York and London.
The official launch date is vague — slated for the second half of the year. Consumers can purchase a bike either online, or through physical retail showrooms in Sydney and Melbourne. The showrooms give people the opportunity to try before they buy — or as the company says, “experience Peloton firsthand, and learn more about the live studio experience they can bring home”.
As for the price? Yep, it’ll cost you a pretty penny. You’re looking at $2,895 for a Peloton Bike, $3,695 for a Bike+. The All-Access Membership is $59 per month.