Peloton CEO Barry McCarthy may be fending off activist investors, but he’s also trying to put his turnaround plan in place for the fitness tech company.
That includes a shakeup for its pricing: lowering the cost of its exercise bikes and treadmills, but putting up the cost of its all-access membership (subscription) in North America.
“Starting June 1, 2022, we will be increasing the price of our monthly North America All-Access membership fee from $39 to $44 in the US and from $49 to $55 in Canada,” announced the company, while noting that its international pricing will stay the same.
“The price of hardware relative to the subscription is one of many levers by which we are looking to reduce barriers to entry,” is how the company explained the move.
The news came as Peloton launched ‘Rock22’, its first “global music genre programming event”.
Cue a series of more than 100 workout classes based on rock music, with artists including Def Leppard, Iron Maiden, Jimi Hendrix, Paramore and Weezer on the lineup.