This week, Peloton’s CEO John Foley was featured as part of the “The Bloomberg 50”. This list is people “rising above 2020’s high bar in our look at the people in business, entertainment, finance, politics, and science and technology whose accomplishments merit recognition”
A hot topic with Peloton right now remains the order & shipping backlog, and he was asked about that for the article:
“I think that for a long time we’re going to be scrambling to increase our capacity,” Foley says, adding that he hopes to resolve some outstanding supply issues by April. For now, he says, the company has slashed its ad spending to avoid inflating expectations.
This fall he also discussed how one of his long term goals is for the company to have 100 million members. In his interview with Bloomberg, he states that he thinks 20-30 million is achievable in the “not-too-distant future”
Foley also addresses whether he thinks Peloton is seeing artificial growth right now, and if they can sustain their current level of membership:
Foley shrugs off questions about Peloton’s stamina and post-pandemic potential, noting that the company has at least doubled its revenue each year since its 2012 founding. At the center of his bullish case is the degree to which Peloton’s pricey hardware and gamified software can lock customers into the classes. Why go back to the gym in 2021, the thinking goes, now that you’ve already got the bike and a digital spin instructor at home?
You can find the full article here on Bloomberg, as well as a short video to go along with the article.