Fall of Peloton, the most famous social network for connected (home) fitness – Corriere.it

From Elena Theban

Following the huge epidemic of its luxury equipment equipped with screens and headphones to follow fitness instructors from afar, Peloton suspended production and the CEO was forced to resign. But this is not the end of connected fitness

He became A symbol of how technology and epidemics have changed our lives. Now PelotonThe American company that manufactures hyper-connected home fitness equipment (along with its social networks), is becoming Symbolizes a return to the pre-epidemic era. Established in 2011 to use technology to give short-term people the opportunity to follow from home, such as gyms, spinning courses, high-intensity indoor cycling, In the first year of the epidemic, the Peloton Anglo-Saxons were widely successful in the world, When the risk of infection has made it physically dangerous (or forbidden) to go to the gym. So much so that its factories were no longer able to keep requests for bikes and treadmills for about two thousand euros (and often more).

The idea behind this is relatively simple: Luxury equipment with microphone screens and headphones that let you follow fitness instructors And interact with them, follow customizable courses and classes (in which you exercise together with people who live thousands of kilometers away from their home) On a certain social network Which can be accessed by paying a monthly subscription of around 70 euros. One of the advantages of this was to attract those who do not usually go to the gym due to lack of time or fear of confrontation with other users.

The epidemic made Peloton’s services particularly popular and Many were willing to bet that it would change the way we fit our fitness forever. Not so: With the advent of the vaccine and its return to social life, users – the record says – have stopped buying and using sports equipment from home. After losing $ 439 million in the last quarter, Peloton has suspended production of its bicycles and treadmills to reduce costs. And, on Tuesday, Recode wrote again, announcing that 2,800 will be laid off, His plans for a new $ 400 million factory in Ohio will be scrapped and its CEO John Foley will resign. “He will be replaced by former Spotify CEO Barry McCarthy.

Peloton is the most famous victim of a common trend, which also affects its lesser known competitors. Demand for personal fitness classes and gym membership has risen again, as Google searches for gym equipment in general continued to decline from their peak in March 2020. According to SafeGraph, foot traffic to the gym in January 2020 has now returned to the same levelA geospatial data company, ”the record explains again about the United States.

At first glance, this may seem like a throwback to the pre-epidemic era, and those hyper-connected fitness equipment are doomed to disappear like the 1980 aerobics videotape. But of course it is more complicated than that. Many not only go to the gym to exercise, but also see it as an opportunity for socialization. And that’s right: sports like sports have an inevitable social dimension where physical presence is fundamental. But You just have to be more discriminating with the help you render toward other people. So much so, as the record notes, “a streaming platform for fitness content that lets people use the equipment of their choice – and for much less money. These services include Apple’s Fitness +, ClassPass on-demand home workouts and millions of fitness videos on YouTube. These streaming options tend to make money through low cost advertising or monthly subscriptions Without forcing people to buy special equipment »just as smart working remains a fixed, partial form that does not replace but with” on site “work, connected fitness will not disappear, but will offer another way to integrate the traditional.

(This article was first published in a press review, one of the three events of El Punto, the newsletter that the courier reserves for its subscribers. To subscribe, click here)

February 11, 2022 (Change February 14, 2022 | 13:29)

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