How much does a Peloton bike cost?
At-home fitness bike companies are pedaling past spin giants like SoulCycle as consumers prioritize subscribing to workouts over attending them in-studio.
Peloton, the stationary bike company, had four percent more U.S. customers than Equinox-owned SoulCycle in 2018, according to data from Second Measure, a firm that analyzes company performance.
Peloton more than doubled its customer base since 2018 while the number of SoulCycle attendees, meanwhile, declined nearly 10 percent, according to the report.
The at-home bicycle comes with a built-in, WiFi-enabled screen for users to livestream workouts with celebrity instructors on-demand. The cost for a bike starts at $2,245 or $58 a month, plus the cost of a membership which is $39, according to Peloton’s website. With equipment and the subscription, it would cost a user around $3,000 for the year.
PELOTON LAUNCHES AMAZON FIRE TV, APPLE WATCH APPS, LOWERS DIGITAL SUBSCRIPTION PRICE
To compare, the average cost of a one-year gym membership in the U.S. is nearly $700. Peloton has made its pricing more accessible, however, appealing to consumers who do not have to purchase equipment and can instead stream workouts like HIIT (high-intensity interval training) or yoga via its app. The new price for the home-fitness company’s digital-only subscription service is $12.99 a month, down from $19.99, the company announced in December.
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Americans seem to be willing to invest more in health and wellness. Sixty-one percent of people spend up to $175 per month and $2,100 a year, on exercise, according to a survey from ASweatLife.com, slightly under what it costs to purchase a piece of Peloton equipment.
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