Fitness firm Peloton is one of the businesses for whom the Covid-19 pandemic has a silver lining, with many people unable to visit gyms and thus working out at home.
The company’s latest quarterly financial results reveal that its number of ‘connected fitness subscribers’ (people paying for a Peloton subscription) grew by 94% year-on-year to more than 886.1k last quarter. Meanwhile, the company’s revenues grew by 66% to $524.6m that quarter.
“Over the past several weeks, our warehouse and delivery teams have delivered tens of thousands of Peloton Bikes to new members across our markets,” announced the company in its letter to shareholders.
There’s also some information on Peloton’s relationship with the music industry, having settled the lawsuits filed by several US publishers. “Since the resolution of the litigation in February, we have welcomed thousands of new music publishers to our platform,” reported Peloton.