Success Through Strength

Both Peloton and Planet Fitness are expanding their investments in strength workouts over cardio equipment as a growing share of exercisers looks to build muscle, CNBC reported.

Earlier in August 2024, Peloton launched testing for an app dedicated to strength workout plans called Peloton Strength+.

And Planet Fitness shifted its fitness equipment supply earlier this year after finding that its members, and especially Gen Z, consistently sought more strength training opportunities and less cardio. Gen Z patrons currently make up 25% of Planet Fitness’s base, according to the company’s earnings conference call from the third quarter of 2023.

The emphasis on strength would seem like a slight shift in strategy especially for Peloton, who are still largely associated with cycling, running, and other cardio classes. As well as the equipment including exercise bikes, treadmills, and rowing machines associated with those workouts.

But a new focus on strength training could also help Peloton deliver more balanced fitness to its customers as complements to their typical cardio routines. Strong muscles, after all, can help prevent injuries that are often associated with high-impact aerobic activities.

These are possible sources of appeal that could extend beyond Gen Z and include a broader share of Peloton’s traditional target audience. Which would seem to include average- to higher-income adults who are seeking convenient-yet-premium fitness experiences. Including busy professionals or parents.

As Peloton faces growing challenges as a business, it’s already been testing whether strength training could be part of its way forward, CNBC noted. The company has previously said demand for their cardio focused fitness equipment has been sluggish as consumers pull back from big-ticket items.

Peloton has also said that their strength training classes, and not their cycling or running classes, are their most popular type of content for digital members. And the number two category among those who have Peloton hardware.

The new Peloton Strength+ app is designed for strength workouts at the gym, and features custom, instructor-led programming. This programming will be delivered through audio guidance and expert coaching, as well as a custom workout generator that designs routines based on equipment access, areas of focus, time availability, and more.

Within the flagship Peloton App, the company is also testing “Personalized Plans” that will allow users to create a fitness routine tailored to specific goals and needs. Including weekly sets of class recommendations that will merge expert-designed personal training and machine learning.

Initially, Peloton App users will be able to select from two initial goals, with the potential for more to be added during the testing process: “Support Weight Goals” and “Get Stronger.”

Peloton is also planning new immersive, gaming-inspired experiences for its cycling offerings meant to encourage social engagement. Within some of these new experiences, users will be able to cycle in virtual training environments, including via a personalized avatar riding through simulated landscapes, either alone or with other virtual riders.

In July 2024, Peloton reduced its live streaming classes from its New York studio from seven days a week to six. Their London studio has also moved from seven days of live streaming to five.

These moves by Peloton were not only about saving money, according to CNBC, but also about freeing up production staff to work on projects such as a new partnership with Hyatt Hotels. Under the new Peloton/Hyatt partnership, hundreds of Hyatt properties will be outfitted with Peloton equipment. And Hyatt guests in 400 locations will have access to bespoke Peloton classes on their room TVs.

In terms of Peloton’s new Strength+ app, CNBC noted the company’s approach mirrors that of competing provider Ladder, which has offered personalized strength training since 2020.

Ladder’s CEO Greg Stewart told CNBC that 65% of its users are taking its app to the gym to use the equipment there. This is a shift from during the pandemic, when products largely focused on home fitness consumers. Now, according to Stewart, gymgoers represent “untapped potential” within the industry.

Other fitness companies have also been following the same trend as Planet Fitness and Peloton toward strength training over cardio. Earlier in 2024, connected fitness company Hydrow, which Peloton once tried to buy, acquired a majority stake in strength training company Speede Fitness.

In its 2024 annual fitness survey, health club company Life Time found that “building muscle” was the number one health goal among survey respondents at 35.9%, an increase of 3% from last year. This was followed in number of responses by weight loss and moving more each day.

The Life Time survey also found that 50.8% of its 3,000 respondents have an equal mix of cardio and strength training in their routines. Meanwhile, 18.2% said their workouts were mostly cardio focused, while 15.6% reported they focus solely on strength training.