Peloton may be considering adding an annual membership option for the App-only subscription, according to new data uncovered by Bob Treemore.
Currently Peloton App users (previously called “Peloton Digital” before they rebranded) pay for their subscription on a monthly basis at a $12.99 USD monthly membership price (though there are discounts for students, educators, military & more). Peloton App-only subscribers do not own hardware (such as the Peloton Bike, Bike+, Tread, Rower, or Guide) but have access to nearly all Peloton content (scenic content & Lanebreak games being two notable exceptions).
There is nothing indicating that Peloton would eliminate the monthly membership option – but they could potentially add an annual option that would presumably cost slightly less than paying one month at a time.
Many companies offer annual pricing with a slight discount for customers who will commit to a longer term membership, including fitness brands like JRNY and iFit, as Bob points out in his Tweet.
Peloton CEO Barry McCarthy has previously discussed a renewed and reimagined focus on Peloton’s digital offerings. In an interview with Bloomberg just a couple of months ago, he discussed that Peloton is exploring a “freemium” model for the app. This means that some features of the app would be completely free, while other features would remain behind a paywall.
A new annual pricing structure could be an additional way for Peloton to try to increase their App-only subscription numbers.
Peloton occasionally offers extended trials on their app. For example, for the month of October new members could receive a 60 day free trial – double the standard 30 days – for the Peloton App.
If you’re a Peloton App member, would you be interested in a yearly subscription model?
Want to be sure to never miss any Peloton news? Sign up for our newsletter and get all the latest Peloton updates & Peloton rumors sent directly to your inbox.