When Apple announced Fitness + during Peloton’s first investor meeting, the Peloton CEO was immediately asked whether Apple would get into the same business.
Apple announced Fitness, a streaming fitness program for Apple Watch users, at the Time Flies event in September. The service tries to combine the health monitoring features of the Apple Watch with teacher-led workouts.
The move has made Apple a direct rival to Peloton, another company known for making quality exercise equipment – treadmills and stationary bikes – and combining them with streaming fitness content.
The announcement was made in the middle of Peloton̵
“We’re just digesting the announcement like everyone else,” said John Foley, CEO of Peloton CNBC. “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.”
He suggested that Peloton continue to excel at delivering devices that Apple doesn’t offer.
“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. ”
Peloton’s gear is aimed at a different audience – those willing to spend thousands of dollars to get fit. Peloton’s cheapest bike is $ 1,895, while the Peloton Tread + starts at $ 4,295. Peloton also offers two different membership options. A $ 13 tier allows a single user to take peloton fitness classes and does not require peloton equipment. A Peloton Bike, Bike +, or Profile + is required for a $ 40 tier, and the family has full access to health data, guided workouts, and more.
Conversely, an Apple Watch Series 3, the minimum requirement for access to Fitness +, costs $ 199. A subscription to Fitness + starts at $ 9.99 and covers up to five family members.
Peloton recently announced a new Peloton Bike + that can be easily paired with the Apple Watch via GymKit.