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“A legitimation of fitness content”

John Foley, Founder and CEO of Peloton Interactive Inc.

Chris Goodney | Bloomberg | Getty Images

John Foley, CEO of Peloton, said Tuesday that Apple’s introduction of a fitness platform is “legitimizing” this type of content.

Foley’s remarks were made during the bicycle maker̵

7;s first investor meeting as a public company and coincided with Apple’s zippy reveal of the fitness platform, which allows users to access a catalog of workout videos on iPhones, iPads, or Apple TV that sync with an Apple Watch.

Peloton stock was down slightly on the news, rising about 4% recently.

“We’re just digesting the announcement like everyone else,” said Foley. “The biggest thing I’m going to say is that it’s pretty much a legitimation of fitness content in that the biggest company in the world, a $ 2 trillion company, comes in and says fitness content is important. It’s meaningful to Apple enough.”

However, Peloton is separating from Apple with its high-tech spin bikes and treadmills, which Apple does not want to offer its customers.

“You don’t get into it [hardware] Category, “said Foley about Apple.” You will only be the content. And we think the special sauce, the magic, is our networked platforms. To be able to exercise at home, you will need a stationary bike if you want to ride a bike. You need a treadmill if you want to run. ”

Meanwhile, Peloton has outlined its plans to grow to 100 million subscribers. To get there, the company plans to expand outside of the U.S., launch new products, and make sure its equipment is affordable.

Peloton stocks are up more than 200% this year.

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