Peloton is in the process of rolling out discounted pricing for the Peloton Digital app membership. Normally, the price for Peloton’s membership is $12.99/month.
Now, University & college students are able to get the Peloton Digital subscription for only $6.99 a month.
First Responders, Military, Educators (Teachers), and medical workers will be able to get Peloton Digital for $9.99/month.
Note that this discount is ONLY for digital-only users. If you own a Peloton Bike, or Tread, you will still be required to pay the normal $39.99/month – no discount is being offered for that. At this time, the offer is only eligible for members in the US. Peloton implies they are working on rolling it out to their other countries (Australia, United Kingdom, Canada, Germany), but don’t have full details on that now.
Peloton says you’ll have to verify your status each year – once you are no longer in an eligible group, you will revert back to regular pricing. If you currently have a digital-only membership but would like the discounted pricing, Peloton says you’ll need to cancel your membership and sign up again.
On previous earnings calls, Peloton has stated that they mostly see their Peloton Digital offering as a way to get people into the Peloton ecosystem so they can then try to convert them to buy the hardware, and the more expensive membership. They’ve recently stated they are seeing a higher conversion rate than they initially expected. This special offer could then get the Peloton Digital app in front of more people, thus creating more upgrades to full memberships for Peloton in the long term.
This isn’t the first time Peloton has given a discount to students. As part of the multi-year Beyonce partnership, Peloton gave 2 years worth of Peloton digital memberships to students at 10 different Historically Black Colleges and Universities (HBCUs).
Over the last week, Peloton has been offering a discount on refurbished Peloton bikes for people in specific zip codes. Additionally, for the last year or more, military & medical workers have been eligible to get a free accessories package with the purchase of a Peloton bike.