Fitness company Peloton has revealed plans to raise its monthly app subscription fee in Canada and the United States, while also cutting the cost of its Bike, Bike+ and Tread products.
As of June 1st, Peloton’s all-access plan will increase by $6 CAD per month in Canada ($55 CAD/month) and $5 USD per month ($44 USD/month) in the United States. The fitness company says it has no plans to increase its subscription cost in other regions, and that its digital-only plan price will remain the same.
Peloton has also slashed the price of several of its products:
- Bike (v1): Changing from $2,245 total ($350 shipping fee included) to $1,845 ($350 shipping fee included)
- Bike+: Changing from $3,295 (Shipping included, $0) to $2,495 (Shipping included, $0)
- Tread: Changing from $3,745 total ($450 shipping fee included) to $3,395 total ($450 shipping fee included)
Though Peloton’s stock skyrocketed amid the ongoing COVID-19 pandemic, its shares have fallen roughly 30 percent since December as people started to return to in-person gyms. In February, the fitness company replaced its CEO and cut 2,800 jobs (20 percent of its total workforce). At the time, rumours also circulated that Amazon, Apple and Nike were considering purchasing the company.
Update 04/14/2022 2:46pm ET: The story has been updated with Canadian pricing for Peloton’s fitness devices.
Image credit: Peloton