It has worked to rein in its gargantuan costs, remedy recalls and find new revenue streams asyet to return to profitability
The content people will have access to varies by the level and, in some cases, legacy users will have less access come December when a grace period ends. Currently, people who pay $12.99 a month to use the Peloton app can do a bike class every day, but in December, they'll only be able to do three per month.
The message is a far cry from Peloton's earlier commercials and marketing materials, which predominantly featured ultra-fit athletes using its equipment. "When it comes to this initiative, we're just excited that No. 1, our members will feel reflected and new members will feel like Peloton is for them," said Cotter. "And then, you know, the tiering structure allows us to welcome people up the ramp."
"Our members, our instructors, our classes, our content. That is unchanged. The company has evolved into all of this," said Berland. "It's time for the brand and the marketing to represent all of that and all of its vibrancy."Liz Coddington, Peloton's chief financial officer, said creating different points of entry to the company's content will set it up for long-term growth.