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\n

Peloton announced in a press release<\/a> today (via CNBC<\/a>) that it plans to raise the cost of its all-access subscription for live and on-demand classes from $39 \/ month to $44 \/ month starting on June 1st, 2022. However, new, lower prices for Peloton\u2019s exercise equipment are set to go into effect at 6PM ET today, according to CNBC \u2014 the Bike will cost $1,445 (including a $250 shipping fee) instead of $1,745, the Bike Plus will go for $1,995 instead of $2,495, while the Tread will drop to $2,695 (including a $350 shipping fee) from $2,845. <\/p>\n
The change only applies to customers in the US and Canada and doesn\u2019t affect the $12.99 \/ month app-only membership. As noted by CNBC, the subscription price in Canada will go from $49 CAD to $55 CAD, but there’s no word on how much the equipment will cost.<\/p>\n
The lower equipment cost could help attract customers who may have been intimidated by the company\u2019s steep price tags and gives Peloton the opportunity to gain more revenue from recurring subscriptions. This, in addition to the Bike rental program it\u2019s testing<\/a>, also helps Peloton slough off the excess inventory it gained from making too much equipment<\/a> amid low demand<\/a>.<\/p>\n
\n\u201cWe want more people to be able to afford our hardware\u201d<\/q><\/aside>\n<\/div>\n\u201cWe want more people to be able to afford our hardware,\u201d Peloton said in a press release. \u201cThere\u2019s a cost to creating exceptional content and an engaging platform, and this price increase will help us continue to deliver for our Members.\u201d<\/p>\nPeloton CEO Barry McCarthy, who previously served as a Spotify and Netflix executive, took over the helm<\/a> at the company\u2019s rockiest point in its history<\/a>. He hinted at overhauling Peloton\u2019s business<\/a> earlier this year and said he wanted to find the \u201csweet spot\u201d between equipment and subscription costs. This meant slashing the price of Peloton\u2019s workout hardware while raising the prices of its subscription, potentially to \u201c$70 or $80.\u201d McCarthy hasn\u2019t hiked up costs that much, but the modest price adjustments signal that he\u2019s following through on his promise.<\/p>\n
Update April 14th 1:10PM ET: <\/strong><\/em>Updated to clarify that the change won\u2019t affect customers outside of the US and Canada and that it also won\u2019t change the price of the app-only membership. Also added updated subscription prices in CAD.<\/em><\/p>\n<\/div>\n

<\/br><\/code><\/p>\n
Source: https:\/\/www.theverge.com\/2022\/4\/14\/23025237\/peloton-cuts-prices-exercise-equipment-subscription-costs-barry-mccarthy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Source: Peloton announced in a press release today (via CNBC) that it plans to raise the cost of its all-access subscription for live and on-demand classes from $39 \/ month to $44 \/ month starting on June 1st, 2022. However, new, lower prices for Peloton\u2019s exercise equipment are set to go into effect at 6PM […]<\/p>\n","protected":false},"author":1,"featured_media":3774,"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-3773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nPeloton cuts prices of exercise equipment while raising subscription costs - 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\/04\/15\/peloton-cuts-prices-of-exercise-equipment-while-raising-subscription-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peloton cuts prices of exercise equipment while raising subscription costs - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Peloton announced in a press release today (via CNBC) that it plans to raise the cost of its all-access subscription for live and on-demand classes from $39 \/ month to $44 \/ month starting on June 1st, 2022. 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