Update – Peloton officially rolled out annual pricing for the Peloton app on December 20th.
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?
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I have a Peloton sitting in my bedroom. Now that the pandemic is over, i cancelled my monthly membership and went back to paying $25 a month at my gym. They need to get off their high horse and give people what they want. $44 for a monthly membership to a bike sitting in my bedroom is insane. I will never recommend anyone get a Peloton because they don’t offer enough options for their diverse users. I only want to ride three or 4 times a month. I don’t want to pay for something i don’t use. Anyone want to buy my bike?
I don’t own a peloton bike or tread because here in Canada they don’t dleiver to my area. I bought a Bowflex c6 bike which is an excellent bike. I use peloton digital on my iPad and it’s $17 a month Canadian dollars. I don’t understand why Peloton charges so much to users who have already made the committment to buy their very expensive equipment. If I owned an actual Peloton bike this would actually discourage me from keeping it. It’s a lot of money each month for the same content. I’d pay for Peloton annual digital but if they don’t do this tier thing right for app users it will certainly upset a lot of their existing digital users and that won’t be good. Maybe they are realizing that the manufacture and shipping and assembly and support for all these different pieces of expensive gym equipment is very costly and they are hoping to move away from owning their own hardware altogether. I’ve always wanted a Peloton tread but with the hefty price tag and increased monthly fees, honestly I’d prefer to buy a cheaper model somewhere else. Treads are all really good these days once you’re in that price point anyhow.