Peloton may soon allow users of competing fitness equipment to stream their workouts to their bikes and treadmills. In an interview with , CEO Barry McCarthy said the company is “rethinking” its digital strategy. As a first step, Peloton could adopt a freemium model that would allow the company to start offering some of the features and workouts in its mobile and TV apps for free. Currently, the software costs $13 per month after a 30-day trial.
In the future, people with stationary bikes or treadmills from companies like Bowflex, Echelon and NordicTrack will also be able to stream Peloton content to their device display. McCarthy didn’t say how deeply the company’s software would integrate with competing models. For example, it’s not clear if you’ll see metrics in your workout the same way you would on a Peloton bike or treadmill.
McCarthy also told Bloomberg that Peloton plans to redesign its bikes to enable customers to assemble them at home. Currently, the company has professionals coming to your home or apartment to assist with installation. “We’ve been working on it for a while, and it’s a real thing,” he said. “We’re going to continue to bring down the cost of hardware, we’re going to design it so you can assemble it so we can ship it with FedEx.”
These moves are struggling at Peloton time to return to profitability. Following the first three months of 2022, the company raised prices and laid off 784 employees (previously). Only a year ago, the idea of Peloton giving you access to its software on competing hardware seemed unthinkable, but now that its very existence is at stake, it’s doing what it has to do to stay afloat.
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