Summary of some of the interesting facts and news that came from the Peloton Q3 2020 earnings call and investor shareholder letter.
Company News
Peloton pledges $1 million for free membership and extra bikes for hospitals & healthcare workers
In response to the COVID-19 crisis, Peloton is pledging to help keep their coaches, members, and health care workers across the country healthy and active.
Peloton likely to temporarily suspend all live classes from NYC
Peloton will temporarily suspend all live classes from the New York City Peloton studio due to an executive order for the state of New York mandating non-essential workers stay home.
Peloton cancels more live classes, delays official Hudson Yard studio opening ride
Peloton has made further changes to the live class schedule, and postponed the official opening of the Hudson Yards Peloton Studios New York “Lights Up” ride.
Latest Peloton Coronavirus COVID-19 Update – Letter from CEO John Foley
Peloton CEO John Foley has released a letter detailing the latest efforts the company is making due to coronavirus COVID-19.
New Peloton NYC Studio in Hudson Yards to officially open March 19th
The new Peloton studio in Hudson Yard will host its first class on March 19th, 2020 as Robin Arzon coaches a Lights Up Ride.
Peloton Music Lawsuit Settled – NMPA & Peloton Enter Joint Collaboration Agreement
This morning, Peloton and the National Music Publishers’ Association (NMPA) announced they have settled their long-running lawsuit over Peloton’s usage of music in their classes, and are entering a new joint collaboration agreement.
Flywheel At Home Shutting Down – Peloton Offers Free Bike
Flywheel emailed users of their Flywheel At Home service that they would be shutting down effective March 27th, 2020 due to the recent Peloton lawsuit. Flywheel At Home owners have the option to trade-in their Flywheel for a free Peloton bike.
Update to Peloton Music Lawsuit: Peloton’s Counterclaim Dismissed
Last Wednesday, a judge dismissed Peloton’s counterclaim that the National Music Publisher’s Association (NPMA) had violated anti-trust laws by encouraging smaller music publishers to band together in their negotiations.
Peloton & Flywheel Lawsuit Settled
Peloton & Flywheel have resolved their court case, with Flywheel admitting they infringed on Peloton’s patents. Flywheel will remove the technology within 60 days.
New Power Zone Instructor(s?) coming in 2020, new fitness discipline, and more in 2020
Peloton CEO John Foley sent a letter to all Peloton members, and said that in 2020 we can look forward to new Power Zone instructors, new disciplines (the Peloton rower?) and more in the next year.
Peloton Donates $100,000 to Action For Healthy Kids
Peloton’s Move For More initiative generated a $100,000 donation to Action for Healthy Kids, thanks to 20,000 Peloton members who took at least three Move For More classes.