Peloton’s Strength+ app offers custom workouts tailored to individual goals, preferences and available equipment. Courtesy of Peloton
Executive Summary:
Peloton has launched Strength+, a dedicated strength training app aimed at attracting new customers, particularly millennial men. The app offers personalized workouts, guidance from Peloton strength coaches, and integration with gym equipment like barbells and kettlebells. Features include custom audio options and a comprehensive library of instructional videos. The app costs $9.99 per month, with an introductory offer of $1 per month for select users, and is free for existing premium Peloton subscribers.
This initiative follows significant changes at Peloton, including the appointment of new CEO Peter Stern, co-founder of Apple Fitness+, and a restructuring effort that involved layoffs of 15% of its workforce. Despite these challenges, Peloton has shown signs of recovery, with its Q1 revenue dipping slightly by 1.6% but narrowing its net losses substantially.
To support the app’s launch, Peloton introduced a marketing campaign featuring NFL stars J.J. Watt and T.J. Watt, targeting millennial men — a demographic underrepresented in its predominantly female customer base. By diversifying its offerings and audience, Peloton aims to bolster its position in the competitive fitness market.
