The new price for the home-fitness company’s digital-only subscription service is $12.99 a month, down from $19.99, Peloton announced Thursday. The monthly cost for streaming workout classes on its stationary bike and treadmill equipment will remain $39 a month.
In addition to lowering its price, Peloton, which sells spin bikes starting at $2,245, also launched new apps for the Apple Watch and Amazon’s Fire TV so users can stream fitness classes straight to any TV and get a lower subscription cost. The Peloton app on the Apple Watch will let users track their pace and distance during indoor runs and track their heart rates during remote workouts. The Fire TV app will let users take non-equipment Peloton classes like strength training, yoga or mediation without having to watch it from the stationary bike or treadmill screens.
Peloton shares faced pressure Wednesday, a day after the company, which went public in September, was hit with backlash for its holiday commercial. In it, a man surprises his wife with a Peloton bike as she chronicles her fitness journey with the equipment, waking up at 6 a.m. to work out while filming her rides and documenting her progress. She is seen telling the camera, “Five days in a row.” Critics condemned the ad for featuring an in-shape, attractive woman who appeared to be seeking her husband’s validation.
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