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{"id":1302,"date":"2022-03-11T14:44:35","date_gmt":"2022-03-11T14:44:35","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/03\/11\/pelotons-testing-a-leasing-program-for-its-bike\/"},"modified":"2022-03-11T14:44:37","modified_gmt":"2022-03-11T14:44:37","slug":"pelotons-testing-a-leasing-program-for-its-bike","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/03\/11\/pelotons-testing-a-leasing-program-for-its-bike\/","title":{"rendered":"Peloton\u2019s testing a leasing program for its Bike"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/3\/10\/22970905\/peloton-bike-fitness-subscription-model<\/a>
\n
<\/br><\/code><\/p>\n

\n

Peloton CEO Barry McCarthy hasn\u2019t been coy about how he plans to get the struggling fitness company back on course. A few weeks ago, McCarthy both quashed sale rumors<\/a> and dangled the idea of shaking up Peloton\u2019s subscription models<\/a>. Now, Peloton says it\u2019ll pilot a new subscription model called One Peloton Club<\/a> in select states starting Friday.<\/p>\n

Under the new model, customers will pay a single $60\u2013$100 monthly fee that covers renting the Bike and the cost of classes, according to a Wall Street Journal<\/em><\/a> report. If the customer decides to cancel, Peloton will take back the bike free of charge. The pilot will be available in Texas, Florida, Minnesota, and Denver for a limited time. Customers will have to stop by a local showroom to sign up \u2014 it\u2019s not available online. You can see the addresses of those locations here<\/a>. In certain markets, Peloton will also charge a one-time $250 delivery fee.<\/p>\n

\u201cPeloton has created a limited pilot program in select U.S. markets to explore various pricing models and options for new members,\u201d Peloton spokesperson Amelise Lane told The Verge <\/em>in an e-mail. \u201cThis aligns with Peloton\u2019s belief that intuition drives testing and data drives decision making as the company sets course for the next phase of its evolution and growth.\u201d <\/p>\n

Until now, users have had to buy the Bike and pay a separate $39 monthly subscription fee. If a customer were to use financing, that would mean a monthly payment of $45. Together with the monthly subscription, that adds up to $84 a month until the Bike is paid off. Under the new pilot, it\u2019s possible to pay less each month to have the Bike at home. Previously, the cheapest option would\u2019ve been Peloton\u2019s digital-only subscription, which costs $12.99 monthly. This rental doesn\u2019t eventually pay off your bike, but Peloton says that, like car leases, subscribers have the option to purchase their bike with \u201cBuyout\u201d pricing detailed in the club agreement.<\/p>\n

This isn\u2019t the only move Peloton\u2019s made to draw in new customers. Last week, Peloton extended its free at-home trial from 30 to 100 days<\/a> for a limited period. <\/p>\n

Regardless of whether the new pricing strategy pays off, it\u2019s a clear sign that McCarthy is putting his stamp on things. McCarthy was previously the CFO of Spotify and Netflix, and former CEO John Foley pointed to his experience with subscriptions as a major reason why McCarthy was brought on. At last month\u2019s Q2 earnings, it was also clear that Peloton is aware that it needs to shift from a hardware-first strategy to one that puts its content front and center. McCarthy echoed that sentiment in a recent Financial Times<\/em><\/a> interview.<\/p>\n

That doesn\u2019t mean Peloton is completely jettisoning hardware from its overall business. The company is expected to launch its camera-based Peloton Guide<\/a> strength training system this year, and a connected rower has also been rumored. <\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/3\/10\/22970905\/peloton-bike-fitness-subscription-model<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Peloton CEO Barry McCarthy hasn\u2019t been coy about how he plans to get the struggling fitness company back on course. A few weeks ago, McCarthy both quashed sale rumors and dangled the idea of shaking up Peloton\u2019s subscription models. Now, Peloton says it\u2019ll pilot a new subscription model called One Peloton Club in select […]<\/p>\n","protected":false},"author":1,"featured_media":1303,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-1302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nPeloton\u2019s testing a leasing program for its Bike - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/03\/11\/pelotons-testing-a-leasing-program-for-its-bike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peloton\u2019s testing a leasing program for its Bike - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Peloton CEO Barry McCarthy hasn\u2019t been coy about how he plans to get the struggling fitness company back on course. 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