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Peloton Interactive Inc (NYSE: PTON) said it is raising price of its monthly subscriptions for online workout classes and cutting price of its stationary bikes and treadmills.
Peloton said that starting June 1 customers will have to pay $44 per month for its “all-access membership,” up from $39 per month.
Also Read: Peloton slashes sales projection for 2022
“There's a cost to creating exceptional content and an engaging platform, and this price increase will help us continue to deliver for our Members,” said the company.
“International membership pricing is currently unchanged, as we are continuing to build out our library of content for our global audience,” it added.
The fitness equipment company is lowering the price of its bikes and treadmills. The bikes will now start at $1,445 including a $250 shipping fee, down from $1,745 including shipping while the treadmills will start at $2,695 including a $350 shipping fee, down from $2,845 including shipping.
“We want more people to be able to afford our hardware. This is a strategic decision to play for scale and increase market share.”
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