Peloton says in a filing ahead of its IPO that it's riding a consumer trend for fitness and wellness solutions. But it's not reaching those most in need.
The Peloton bike costs more than $2,200 for the most basic package, and that doesn't include the monthly fees for classes., who are living paycheck to paycheck. For the company to have a real impact on the health crisis it would need to reach not just urbanites who love the convenience, but also the parts of the population most in need of easy-to-use fitness services.in a viral tweet thread that poked fun at its ads, which are clearly aimed at the wealthy.
Peloton has more than 500,000 customers using its paid subscription service, up from just over 245,00 a year ago. Revenue climbed to $915 million in the 12 months that ended June 30, up from $435 million the prior year. "We believe that busy lifestyles, less free time and changing household dynamics are driving demand," Peloton said in the filing.
People with low incomes also fit those categories, but they simply can't afford the services. And Peloton, which is already losing money, has to put even more emphasis on profit margins as it looks at attract public market investors. "We've inadvertently designed a society where it's hard to be healthy," said Steve Downe, chief technology and strategy officer for the Robert Wood Johnson Foundation. "So many of the solutions aren't available to most people."
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