, and now experts say it will have lasting effects on the long-term digitization of fitness.
Much like how Netflix and Amazon disrupted the way Americans watch television and shop, Schopfer says the on-demand fitness boom is another example of digitization infiltrating all aspects of our lives. "We're less of the view that as soon as the economy reopens everything goes back to normal," he said. "[Virtual fitness] may decelerate from the current growth level, but broadly speaking, we think this shift toward things being more digital at the consumer level is really here to stay.
"Luckily enough, for now, it doesn't feel like it's a fragmented market. We've got one clear leader, and I think that's Peloton," he said, adding that there is enough differentiation in fitness programs for multiple types of platforms to thrive and prosper. Lucas said that though nearly all of CycleBar's locations in the US have reopened to high return rates, an estimated 10% of riders are still holding off, while taking classes from home. And while physical studios will always be core to the business, he said he expects virtual offerings to act as an "ancillary piece" of the business that can also help attract new riders.A man uses Apple Fitness Plus, a new service launching later this year.
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