Peloton Jumps on Partnership With TikTok for New Fitness Hub

Peloton announced a groundbreaking partnership, a first of its kind for the company, where it will create tailored social content for an external partner, as revealed in a statement on Thursday.

This collaboration introduces a new co-branded platform accessible in the US, UK, and Canada.

It will showcase exclusive Peloton material, encompassing a range of live classes – both with and without the need for equipment – along with unique instructor-led series and celebrity partnerships, all of which can be found under the #TikTokFitness hashtag.

Peloton shares were up 7.2% mid-morning in New York. They had declined 23% in 2023 even as the broader tech industry gained.

Peloton, whose stationary bikes and streamed workout classes became a pandemic-era staple, has struggled as people returned to the gym and other activities.

It long ago separated its streamed content, by instructors who have often become celebrities in their own right, from its trademark hardware in an effort to be accessible to more people.

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The New York-based company last year launched a tiered membership pricing strategy for its app in an effort to engage new kinds of customers in fitness content, from strength and meditation to outdoor running.

TikTok, which started as a music video app and now has more than 1 billion active users globally, has thousands of communities dedicated to various fitness endeavors, from #runnersoftiktok to #thefitnessjourney, according to the statement.

Owned by China’s ByteDance Ltd., TikTok has been trying to popularize more live-streamed videos in the US as it seeks to boost shopping through the app.

Livestream commerce is huge in Asia, but porting that strategy to places like the UK and US has so far fallen flat, Bloomberg has reported.

Peloton Chief Executive Officer Barry McCarthy is counting on deals with Lululemon Athletica Inc. and sports organizations to help bolster revenue, which he expects to pick up in the second half of the company’s fiscal year ending in June.

The deal with TikTok “could eventually boost its own subscriber base, but the path to sustainable profitability and free cash flow remains unclear,” Kevin Near, an analyst at Bloomberg Intelligence, wrote in a note following the announcement.

Financial details of the deal and content pricing weren’t disclosed.

Source: yahoo

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