Are you a fitness enthusiast? Can you count how many times a week do you work out? Are you able to monitor your workout activities scientifically with the help of statistics?
Do you push yourself to progress and achieve the goals based on target timelines? Let’s get to the answer part of all the questions mentioned above.
Most people like to work out to create a healthy body and mind. But due to several reasons, they are unable to achieve their goal.
Sometimes, the fitness studios that offer a good workout session will be miles away from home or have substantial monthly charges.
It is challenging to handle the workout sessions and office works for many people, and they were in search of something that could help them balance everything.
Key Peloton Statistics
- 2.33 million connected fitness subscribes
- Peloton generated $4.02 billion in 2021
- 149.54 million workouts were completed in March 2021
- 37% of Peloton users are aged 35-44
- 184.61 million people are members of a fitness firm
- $9.49 billion in global home fitness equipment market growth
- 24.7 completed monthly classes recorded in 2020
- 459.7 million workouts completed on Peloton platform during 2021
- Peloton has 78 showrooms in the US and Canada
- $495 for Peloton Guide
“We want to be the best employer and the best place to work. This is a massive, massive global opportunity, and I don’t think many people really understand how big this opportunity is.”John Foley, Chairperson & CEO, Peloton
Peloton, founded in 2012, is an interactive fitness platform that allows its subscribers to be part of workout sessions from any part of the world.
The core idea of Peloton is to create a community where people can work out without the fear of wasting their valuable time. Peloton provided 2 options for its subscribers.
One is to follow a specific digital course that comes with the support of a trainer, and the other is to buy equipment that has an inbuilt screen to help the customer in workouts.
People welcomed the company realizing that it could save most of their time-related issues regarding fitness. Currently, there are more than 5 million subscribers on the Peloton platform.
We will discuss the most significant Peloton statistics in this article.
A Brief Timeline of Peloton
2011 – John Foley discussed the idea of a technology that will help busy people who don’t have much time to go to the gym or fitness studio with his colleague Tom Cortese.
Foley suggested building a high-end studio cycling class in people’s homes without making them come to the gym.
January 2012 – Peloton Interactive, LLC was founded. Founder members are John Foley, Tom Cortese, Graham Stanton, Yony Feng, Hisao Kushi.
February 2012 – Peloton was able to gain the trust of many people and raised $400,000 in seed money.
December 2012 – The company raised another $3.5 million in seed money.
2013 – Peloton created and sold its first bike on Kickstarter for $1500.
2014 – The company released the first Stationary bicycle.
January 2018 – Company introduced the Tread+ machine during the annual Consumer Electronics Show in Las Vegas. The 32″ touch screen offered online streaming classes for the subscribers.
May 2018 – Peloton started its expansion to the United Kingdom and Canada.
March 2019 – National Music Publishers Association sued Peloton with a copyright issue regarding certain music used in the video sessions.
They asked for $150 million as copyright money. Later in September, they increased the amount to $300 million. Peloton settled the lawsuit but didn’t disclose the agreement details.
September 2019 – Peloton registered as a public company through IPO(Initial Public Offering). The company was able to raise $1.16 billion.
February 2020 – Flywheel sports, a rival fitness firm of Peloton, admitted that it illegally copied the trade secret of Peloton. Later, Flywheel filed for bankruptcy and got shut down.
Peloton utilized the situation by offering products in exchange for Flywheel equipment for the customers. It helped the company to create a much wider audience and reduce the competition.
December 2020 – The company invested $100 million in shipping solutions to overcome the delays customers face after ordering the equipment.
The Covid-19 pandemic created an unexpected surge in the growth of Peletons revenue, and more people started ordering the product. But the company lost many orders due to the long waiting period.
September 2020 – The company created a high-end stationary bike called Bike+ which offered auto-adjusting resistance.
The digital resistance allowed users to tune up the resistance easily. They also introduced a lower version of the treadmill called Tread.
December 2020 – Paleton acquired Precor, a fitness equipment firm, for $420 million.
According to the deal, the company will obtain 625,000 square feet in manufacturing space in Whitsett, North Carolina, and Woodinville, Washington.
Earlier Precor was owned by Finnish sporting goods company Amer Sports.
March 2021 – The company launched a game in their stationary bikes during June 2021 to get more people’s attention.
The game was named Lanebreak, where players control a tire on the screen with the help of pedaling the Peloton bike.
Peloton Subscribers Statistics
Peloton shares climbed 5% in September 2021, marking a 200% rise this year. In September 2020, The company registered a market cap of $24.9 with an all-time high rate of $98.61.
1. 2.33 Million Connected Fitness Subscribes
According to the stats, Peloton gained 47% of its total growth between June 2020 and June 2021.
During the period, they achieved 1.24 million subscribers to their list. In March 2021, Peloton had 2.08 million connected subscribers.
2. Peloton Generated $4.02 Billion in 2021
The Peloton started its journey in 2012 with seed money of 4400,000 in February and received $3.5 million towards the end of the year. The first stationary bicycle of Peloton was released in 2014.
3. 149.54 Million Workouts Were Completed in March 2021
March 2021 saw the peak workout sessions in the Peloton platform. The company launched a game in their stationary bikes during June 2021 to get more people’s attention.
The game was named Lanebreak, where players control a tire on the screen with the help of pedaling the Peloton bike.
4. 37% of Peloton Users Are Aged 35-44
Peloton targeted people from different age groups. About 66% of their subscribers are from 25-44 age groups.
However, only 2% of people from 18-24 have joined the fitness platform. The company is currently working on several interactive programs to target the young generation.
5. 184.61 Million People Are Members of A Fitness Firm
According to the statistics of IHRSA, 2.36% of the world’s population are regular gym members. However, the Covid-19 pandemic has affected the fitness business negatively.
Almost 17% of the fitness studios and gyms in the US were shut down in 2020 due to the lockdown rules implemented.
6. $9.49 Billion in Global Home Fitness Equipment Market Growth
The global home fitness equipment market showed 40.4% CAGR growth from 2019 to 2020. However, experts say there will be a 3.16% decline in the growth by 2023.
7. 24.7 Completed Monthly Classes Recorded in 2020
A completed workout session is recorded when a Peloton subscriber achieves at least 50% of the training from a course.
The calculation is made by the total number of completed workouts divided by total connected fitness subscribers worldwide. In 2021, an average Peloton subscriber achieved 19.9 activities per month, a decrease of 19.43% from 2020.
8. 459.7 Million Workouts Completed on Peloton Platform During 2021
Since the Peloton equipment can keep track of subscribers’ workout activities, it becomes easy to build a statistics record to analyze the workout progress.
In 2020, the total workouts registered on the app were 164.4 million.
9. Peloton Has 78 Showrooms in The Us and Canada
Peloton created retail outlets in the United States, Canada, UK, and Germany where people can visit their studio and learn to use the Peloton equipment before buying the product.
The highly qualified trainers at the centers will help the subscribers make the machines’ best out.
10. $495 for Peloton Guide
Peloton has designed a digital media player with an inbuilt camera to stream workouts while tracking subscribers’ movements.
According to the company, the Peloton Guide will help them understand the workout pattern of users and can help improve the process to a great extent.
The digital media player is announced in 2021 and will be available by early 2022.
11. 58% of Workouts Done in Peloton Platform Are Cycling
The most popular exercise in Peloton is cycling, followed by the treadmill. Peloton plans to introduce different activities to engage its subscribers and provide them with the best fitness experience.
12. About 2% of Revenue Comes from The Apparel Business
Peloton apparel brand sells leggings, t-shirts, hats, gym bags, etc. Although they account for 1-2% of the overall revenue, Peloton has substantial investments in the market and partnerships between Athleta, Lululemon, hill city, and Gap.
Stats show that the apparel business made 20 million sales in 2020, which is not bad for a fitness studio!
13. 51 Instructors in Peloton
The face of Peloton for millions of its users is their trainers, and hence they must choose the best trainers in the market.
Apart from the trainers, Peloton has approximately 3281 employees in the US, 283 in the UK and Germany. Also, 71 employees are working for Peloton in Taiwan.
14. 90% of Peloton Connected Fitness Subscribers Keep Their Membership for More than 12 Months
People leave most fitness apps and subscriptions when they feel bored or less interested.
However, a study found that 90% of connected fitness subscribers tend to keep their accounts alive even after a year of usage. It shows the success and influence of the Peloton fitness team.
15. 95% of The Us Population Will Get Peloton Service Within 24-48 Hours by 2023
The timely delivery and service are crucial for any business, and a delay in the delivery of the product may result in negative customer feedback and loss of business.
The Peloton team is expanding their local distribution centers in the United States, Germany, and Russia. They are expecting to provide service for US citizens within 24-48 hours of ordering an item.
16. Peloton Has 5.9 Million Subscribers
Anyone who has an account in Peloton is a member. Based on the company statistics, Peloton has more than 5.9 million members on the platform as of June 2021.
It has shown a 9.25% growth rate compared to the previous quarter. It has registered an average of approximately 540 thousand new memberships on each quarter since September 2019.
How Does Peloton Generate Revenue?
Peloton has created significant demand in the fitness market, competing with its main rivals SoulCycle and Flywheel.
According to the stats from BusinessInsider, FlyWheel has filed documents with the US Bankruptcy Court showing that they have an estimated asset value of less than $50000 and $10-50 million in liabilities.
The company stated that the Covid-19 pandemic had affected the fitness business, similar to 24 Hour Fitness, Gold’s Gym, and YogaWorks.
Flywheel will permanently shut down its 42 outlets, and more than 1000 employees will lose their jobs.
So how Does Peloton Thrive in The Fitness Industry?
Peloton has three primary revenue sources
- Connected Fitness Products
Despite seeing the downfall of many fitness companies, Peloton managed to gain more customers and widen its segment through revolutionary ideas.
Peloton introduced two types of memberships for its users. The first one is a Digital membership, where clients can purchase their membership and join live streaming and on-demand exercise classes.
The second type of Peloton membership is for the clients with access to premium company types of equipment.
Peloton introduced their stationary bike product in 2014 that contains a 22-inch touch screen. The touch screen allows Peloton to track the progress of their client’s fitness based on the statistics.
It created a feeling of connection between the fitness company and the clients. The stationary bike cost $2000, and the treadmill, which was introduced in 2018 coasted $3995.
Even though the cost of the machines was high, Peloton managed to generate more revenue by selling the idea of an integrated workout experience without coming to fitness centers.
People who got charged for individual classes were looking for such an option, and the idea clicked.
According to the stats of CNBC, Peloton was able to sell 400,000 bikes. A comparison study of Peloton with SoulCycle revealed that 4% of SoulCycle members, after a while, started thinking about taking membership on the Peloton platform.