Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
ClassPass, a subscription service that allows users to access 30,000 different fitness studios and gyms globally, announced Tuesday it would donate 100 percent of the proceeds from the launch of its new live fitness streaming classes to its small business partners, the company’s CEO Fritz Lanman told FOX Business’ Cheryl Cason Tuesday on “The Claman Countdown.”
“The COVID-19 outbreak has put our business at risk," Lanman said. "Over 90 percent of our partner venues have had to close down in the last two weeks and so what we’re doing now is turning our attention to how we can help them survive these shutdowns.”
ClassPass members will be able to purchase livestreamed fitness classes or personal training classes from their favorite studios or instructors a la carte for up to $20 each. The company will continue to donate the proceeds through June 1 and is also giving consumers the option to donate to studios via the app.
"These providers can launch fitness classes, personal training sessions and virtual coaching experiences through the ClassPass app," Lanman explained. "So we have about 500 of those partners turning on those virtual sessions."
A number of gym chains including Boston Sports Club and Solidcore have laid off employees and personal trainers amid temporary closures. In response to this, Lanman said ClassPass is teaming up with fitness industry leaders to launch a petition urging governments to help small businesses financially forced to layoff workers.
"We've launched a petition along with a lot of the leaders, top CEOs of major gym chains, major fitness studios and wellness providers all over the world asking governments to do more in terms of relief measures to help these small businesses," Lanman said.
Streaming platforms have become the most viable option for fitness businesses to make ends meet with more people working out at home. Streaming platforms like Obé Fitness, which streams live workouts and more than 4,000 classes like strength training, cardio and yoga, said it’s had 10 times more members sign up last week compared to earlier this month as more employees are mandated to work from home.
|PTON||PELOTON INTERACTIVE, INC.||107.95||-8.26||-7.11%|
And big-box gyms are also catering to the demand. Planet Fitness said earlier this month it would now stream daily 20-minute workouts that don’t require equipment at home via its Facebook page. Equinox-owned SoulCycle released its stationary bike for at-home riders to stream cycling classes on-demand via its program Variis, and competitor Peloton, which shuttered its studios and in-store operations earlier this month, has continued to stream live workouts.