Credits: Social Media
Peloton is teaming up with TikTok to bring you ‘live classes’ with no equipment needed
Its been hard to miss adverts for Peloton products in recent years but now, the company is pivoting away from selling its exercise bikes and treadmills and will be providing bite-sized fitness classes through a new partnership with social media app, TikTok.
The move to rebrand Peloton began earlier in 2023 and comes as the company has seen revenues fall each year since peaking in 2021 during the Covid-19 pandemic when gyms and sports facilities were forced to close.
Peloton is teaming up with TikTok
Peloton and TikTok announced their new partnership through a video posted to the social media platform on January 4.
The partnership comes in the form of a new fitness hub the social media giant is calling TikTok Fitness powered by Peloton.
It will feature short-form fitness videos in the style TikTok has become famous for as well as offering longer live classes and collaborations between Pelotons instructors and TikTok creators.
Pelotons post-pandemic struggles
Pelotons partnership with TikTok comes as the fitness equipment firm has seen its revenue drop in the wake of a peak in 2021 which came in the midst of the Covid-19 pandemic when people were forced to find their own ways of keeping fit.
According to figures from Statista, Pelotons revenue rose sharply from $734 million in 2019 and almost quadrupled to almost $3.15 billion in 2021.
That number has since decreased dramatically, falling to just under $2.19 billion in 2022 and dropping again to just over $1.13 billion in 2023.
The partnership with TikTok comes as Peloton attempts to shift its focus away from hardware sales and towards becoming a software-focused company and increasing its subscriber growth.
