Peloton has announced a handful of major changes, including price cuts for its hardware products as well as the first-ever price increase for the All-Access monthly subscription. The price of the Bike will drop by $300, from $1,745 to $1,445, while the Bike+ will drop to under $2,000 for the first time. Head below for the full details…
The news was first reported by CNBC. A Peloton spokesperson confirmed the changes in a statement, saying that the price updates “are part of CEO Barry McCarthy’s vision to grow the Peloton community.”
First and foremost, the price of Peloton’s All-Access monthly subscription will increase from $39 per month to $44 per month in the United States. This change will go into effect on June 1 and it marks the first-ever price increase of the All-Access subscription. The price of the Peloton Digital subscription will remain the same at $12.99 per month.
In a blog post, Peloton explained that there’s “a cost to creating exceptional content and an engaging platform” and that the price increase will allow it to deliver on those expectations.
Meanwhile, Peloton is dropping the price of its hardware products to help offset the cost of the subscription increase. Here are the details:
- Peloton Bike drops from $1,745 to $1,445
- Peloton Bike+ drops from $2,495 to $1,995
- Peloton Tread drops from $2,845 to $2,695
All of these prices include the shipping and set up fees. The price drops will go into effect beginning later today, Thursday, April 14, at 6 p.m. ET. Peloton is expected to share more details in a full blog post soon.
Peloton is also continuing to test a rental option for its hardware products in select markets across the United States. It’s unclear how or if these price changes announced today will affect the rental options available in select markets.