Peloton is exploring new content licensing agreements, according to comments made during the most recent earnings call.
CEO Peter Stern highlighted licensing as one of several areas for growth that Peloton is considering, alongside selling additional devices to existing subscribers and expanding the company’s commercial business.
During the Q&A portion of the earnings call, Stern explained:
“We’re starting to see some real interest in the marketplace on content licensing opportunities, because there is simply nothing like Peloton out there in the world. And so all of those basically aggregate up to give us the confidence that we can turn the tide on the revenue side.”
So far, Peloton’s biggest moves in licensing have been high-profile partnerships with lululemon and Google Fitbit.
In 2023, Peloton and lululemon announced a global strategic partnership that included Peloton classes being available on the lululemon Studio Mirror, helping the apparel brand pivot away from its own content creation. This brings Peloton millions of dollars.
In 2024, Peloton teamed up with Google Fitbit, bringing a library of classes to Fitbit Premium subscribers as part of Fitbit’s wellness ecosystem.
While Peloton has not yet shared specifics about potential new deals, Stern’s comments suggest the company sees licensing as a meaningful opportunity to monetize its extensive content library and expand brand visibility beyond its own platforms.
Though the goal is certainly to add additional revenue streams, Peloton could also use content licensing agreements as a strategy to acquire new customers. By making Peloton classes available on third-party platforms, the company could introduce its content to entirely new audiences – some of whom may eventually transition into full Peloton members.
For now, Peloton appears to be in the exploratory stage, but with growing interest from outside partners, members may soon see Peloton classes appearing on new, non-Peloton platforms.
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So I’m considering purchasing a Zwift because of the bike racing features. Too bad Peloton hasn’t gotten up to speed on this market segment. It’s an important one for athletes like myself that want to use the indoor bike in a more structured race simulation.