Peloton president: Nothing beats the convenience of home
New York (CNN Business)It’s hard to relax on a flight, but Peloton is hoping to help. The fitness company is partnering with Delta Air Lines to bring some of its classes to the airline’s in-flight entertainment systems.
Five stretching and meditation custom classes produced exclusively for Delta are now available on planes with seatback screens. The collaboration marks the first time Peloton’s classes are available to stream outside of its app or hardware, such as its treadmill and stationary bike.
The classes range in length from five minutes to 20 minutes and will help passengers relax, stretch or fall asleep. They’re taught by popular instructors, including Matty Maggiacomo, Adrian Williams and Chelsea Jackson Roberts.
Jen Cotter, Peloton’s (PTON) chief content officer, said she’s “surprised” when people don’t realize the brand offers additional fitness classes that beyond biking or running. The company sells spin bikes and treadmills, but it also offers classes for subscribers who don’t own Peloton equipment.
“It gives us the chance for people that aren’t Peloton members about this accessibility and that we have the best fitness content in the world,” Cotter told CNN Business in an exclusive interview. “We know that once someone downloads the Peloton app and tries one of our classes, they’re going to fall in love with Peloton.”
Stretching and meditation classes were selected as the initial classes because Peloton members frequently ask for travel-friendly exercises. Those options, which Cotter said are “critical to anyone’s wellness routine,” are two classes that people might not know Peloton offers.
The airline approached Peloton for the collaboration and financial terms weren’t disclosed. The classes are not available on Peloton’s app and the plan is for them to be refreshed every few months.
Delta (DAL) is in the midst of revitalizing its in-flight entertainment options after it wasn’t updated for much of the past two years because of cost-cutting spurred by Covid-19. For example, it recently partnered with Spotify (SPOT) to add podcasts and custom playlists to seatback televisions.
Peloton is evolving into a broader health and wellness brand as it aims to diversify beyond just selling hardware. It recently launched its first clothing collection that was developed and designed in-house.
The company is also expanding further into travel with a new website that helps people search for hotels that offer Peloton equipment and a new collection on its app called “Made for Travel,” a curated selection of classes that don’t need equipment such as body weight classes or outdoor running.
The company is aiming to expand its products and attract new members who might be turned off because they think its products are exclusively for the wealthy.
In August, Peloton cut the price of its lower-end bike by roughly 20% and also began selling its lower-end treadmill. The monthly price of its app, which normally costs $12.99, was also reduced for certain people or given away for free to members of select health insurers. It has around 900,000 people who pay for a digital-only membership.
Peloton (PTON) shares are down about 40% for the year, which has been a rocky time for the company. Some of the company’s polish was marred by a massive recall of its higher-end treadmill and it issued a disappointing outlook in its most recent earnings report.
Peloton releases earnings on Thursday.
Source: Read Full Article