Peloton Launches New Line of Fitness Equipment With Focus on AI

Peloton was once one of the fastest-growing companies in the country, supplying those who worked out from home with state of the art equipment. As remote workers returned to the office and others returned to their usual gym routines, that growth slowed.

The company hasn't released a new product in three years, but that's set to change as a new line of workout equipment has been introduced. Peloton recently changed its leadership structure, and they're hopeful that the new line will bring customers back.

The new product strategy includes a cheaper base model to lower the initial cost of entry into the company's ecosystem, as well as new AI-focused features for some of its more premium models.

Five New Peloton Models Unveiled

The Bike and Tread are the entry-level models for recumbent bikes and treadmills for Peloton. They will now retail for $1,695 and $3,295, respectively.

The "plus" versions of these items, as well as the Row+, will all include Peloton IQ. The AI-powered feature will give feedback on a user's form, count reps and suggest workout plans or routines upon request.

The new features and products will come with an increase in Peloton's monthly membership price, which will increase by $5 to $49.99 per month.

Peloton Chief Product Officer Nick Caldwell told CNN that the company learned from past ventures into AI, and they've now realized that customers want to see it integrated in more meaningful ways across their line of products.

“A lot of people still think of us as a bike company, even though our number-two modality is strength,” Caldwell said, noting that Peloton is stressing its capability as a cross-training company instead of one that just makes bikes.

“I think by putting strength right on the product, it makes it very clear that we’re multi-modality.” Each of the new models has a moving screen, allowing users to take advantage of the multitude of classes and programs Peloton offers.

Strength and yoga are at the forefront of Peloton's shift away from focusing solely on bikes, and each of the models also features upgraded speakers and wireless connectivity.

Peloton's First Big Move Under New Leadership

The new product launch is the first major project after new CEO Peter Stern took over the company. He inherited a brand that had lost more 90% of its value since the height of the pandemic, and has worked to reduce the company's debt and repair its public image.

Peloton fell out of favor with the public after price increases and sweeping recalls, and a general return to gyms after the most dangerous parts of the pandemic. With its new product launch, Peloton is aiming to recapture some of the customers they've lost over the last several years.

We'll see if these changes bring Peloton back to the top of the in-home fitness market.