FTC: We use income earning auto affiliate links. More.
On CNBC, CEO John Foley had a number of interesting comments relating to future Peloton offerings, his opinion on competitors, and more. Read on see the highlights or watch the full video.
One of the most exciting things he mentioned was that revenue has grown 100% year over year for six years in a row. He doesn’t think that people will rush back to gyms once a COVID-19 vaccine is developed.
“If you can get a better workout experience at home with a fantastic instructor, a very supportive community, gamified and networked software, and the best hardware in the world, why would you travel?”John Foley, CEO Peloton
Regarding pricing, he said that Peloton might offer rentals in the future (something we’ve speculated about).
Five or ten years from now, I’d be surprised if we don’t offer a rental, but its nothing you’ll see in the next year. It’s all in the name of affordability.
When asked about a strength product.
We need to win strength to win fitness. We care deeply about strength.
He discusses the Boot Camp classes and their value but reiterates that he prefers free weights and bands. When asked about Mirror’s sell to Lululemon, he had this to say:
I am still TBD on Mirror if there is a product-market fit for that product.
When asked if they will allow people to watch Netflix or other third-party content while using a Peloton hardware product:
I don’t hate that idea. We talk about it. Never say never.
Watching Netflix on Peloton is not something I am personally interested in, but I could see some people wanting that option for a low impact workout. It’s certainly better than sitting on the couch watching Netflix. Peloton has a massive opportunity with people’s attention, and it’s of value to the company long term.