Peloton is an American-based exercise equipment and media company currently located in New York City. The company primarily offers internet-connect stationary bicycles and treadmills. Its products work on a monthly subscription business model and allow customers to participate in remote classes. These include access classes and additional features on their exercise equipment.
Peloton primarily offers two products. These include the Peloton Bike and Treadmill. Similarly, these products come with touchscreens and operate on the Android operating system. Both of these are available in various countries. These include the US, the UK, Germany, and Canada. The company also plans to expand its operation into the Australian market in 2021.
Peloton makes its revenues from the sale of these products. However, it also earns from its digital membership, which goes along with its exercise equipment. The digital membership offers classes with various fitness instructors, including Olivia Amato, Robin Arzon, Jess King, and Ally Love. Its products have allowed the company to become a top name in the industry.
Peloton initially started its operations in 2012. Its founders included John Foley, Tom Cortese, Yong Feng, Hisao Kushi, Graham Stanton. Initially, the company raised seed money several times during its first few years. Over the years, Peloton remained a private company with various rounds of fundings. In 2019, the company went public through an initial public offering, raising $1.16 billion in equity.
Peloton generated revenues of $1.825 billion in 2020. However, the company still made a net loss of $71 million. Its total assets at the end of the year included $2.981 billion. Similarly, it reported total equity of $1.678 billion. Peloton also employed over 3,200 employees in the US, 283 in the UK and Germany and 71 in Taiwan.
Peloton offers customers unique products. Its business model allows the company to make money through the sale of physical and digital products. However, there are several alternatives to the company’s products and services. Furthermore, it has also attracted some competition toward the company. The list of the top ten Peloton competitors and alternatives is as below.
1. NordicTrack
NordicTrack is an American company that specializes in treadmills, strength training equipment, exercise bikes, ellipticals, and accessories. The company, established in 1975, started its operations in Minnesota, US. The company’s first product was the ski machine that its founder Ed Pauls invented in his garage. Soon, the company started more of this product and took off.
Today, the company operates under iFIT Health and Fitness Inc. It currently offers its products worldwide. The company’s products often receive positive ratings from its customers. In terms of competition, it is one of Peloton’s primary competitors and offers several alternative products. On top of its regular items, it also has virtual reality gaming products accompanying a stationary bike.
2. Echelon
Echelon, also known as Echelon Fitness, is another company that offers similar products as Peloton. The company’s products include bikes, rowers, treadmills, interactive mirrors, etc. Like Peloton, it also offers memberships, including live classes, world-class instructors, on-demand classes, competitions, etc. Echelon has thousands of on-demand and live fitness classes.
Echelon provides more products compared to Peloton. The company is one of the primary competitors that offer programmed sports equipment. These products also integrate with various smartwatches and fitness trackers. However, the membership fees are higher than Peloton and some other similar brands.
3. Stryde
Stryde is an American company well-known for its Stryde Bike. The company vows to provide the best home fitness experience. Currently, it offers only bikes. Unlike Peloton, it does not have treadmills or other similar products. Despite that, it has great products that can provide customers with the ultimate fitness experience.
Stryde also has affordable products without sacrificing quality. Furthermore, it also offers various classes that the company boasts will drive results. These classes include content from the nation’s top instructors. Similarly, it comes with an app that helps managing user accounts easier. It is one of Peloton’s top rivals in the bike market.
4. Bowflex
Bowflex is a brand that offers a series of fitness training equipment. The company that manufactures these products is Nautilus, Inc. Bowflex is also a subsidiary of Nautilus. Bowflex operates from Vancouver, Washington, and sells its products through retail and international channels. Its products include smart activity trackers, cardio machines, adjustable dumbbells, and home gyms.
Bowflex’s products do not include a programmed screen, unlike Peloton. Therefore, it also doesn’t have a membership service like some other names on the list. However, its equipment connects with fitness apps, including the Peloton app. The company is also working on apps that will also go along with its equipment.
5. MYX
MYX, or MYX Fitness, is a fairly new name in the fitness equipment industry. The company offers similar products as Peloton. However, it does not cater to the same customer class. MYX states that its products are for customers who don’t need motivation through competition. Instead, it caters to customers who seek a healthy lifestyle.
Unlike Peloton, MYX does not offer two products. Instead, it only focuses on providing quality bikes. It also has other products, including weights, kettlebells, mats, tablets, etc. It also offers a membership program, although it costs higher than some other alternatives. MYX is one of Peloton’s primary alternatives in the bikes segment.
6. Schwinn
Schwinn is a US-based bicycle company founded in 1895. The company primarily manufactures American bicycles and is well-known for it. Currently, it operates under Dorel Industries (Pacific Cycle). Although it focuses on non-stationary bikes, it also offers various fitness equipment under its fitness equipment division.
Schwinn’s fitness equipment division also falls under Nautilus, Inc. Although the company does not offer the same products as Peloton, it also has indoor cycling bikes. The company also doesn’t offer memberships or fitness classes like other names on this list. Its other products also include ellipticals and rowers.
7. Precor
Precor operates under Peloton after its acquisition in 2020 for $420 million. The company started its operations in 1980. Today, it offers various indoor training and fitness equipment. Its products include treadmills, bikes, climbers, HIIT cardio products, cross-trainers, etc. On top of these, it also has a wide range of strength products.
Apart from its equipment, the company also offers various consoles to keep users engaged and motivated. Most of its products can are designed and built while keeping commercial and private use in mind. Precor’s equipment provides a decent alternative to Peloton’s products.
8. Life Fitness
Life Fitness is an American fitness equipment company. This company specializes in the manufacturing and distribution of fitness equipment. The company offers various products, including stationary bikes and treadmills. The company also has the achievement of manufacturing the first electronic stationary bike. Life fitness started its operations in 1977 in Illinois.
Life Fitness has been known as an innovator in the industry. It formerly operated under the Brunswick Corporation, which also owns various other fitness equipment companies. However, it currently operates under KPS Capital Partners after a $490 million acquisition.
9. ProForm
ProForm is another company that competes with Peloton through its indoor training equipment and programs. The company offers various products, including treadmills, bikes, fitness mirrors, ellipticals, rowers, strength and HIIT equipment. On top of these, the company also has ProForm+, which is a membership program for users.
ProForm also operates under the iFIT Health and Fitness company. It has expanded its operations to many countries, including the US, UK, Canada, Australia, and many more. The company has been in business operation for over 30 years. It competes with Peloton through its equipment and membership program.
10. Wahoo
Wahoo is a fitness technology company that operates in Atlanta, Georgia. Founded in 2009, the company has offices in many countries, including London, Berlin, Reno, Brisbane, Tokyo, and Boulder. Wahoo is a relatively new name in the fitness equipment industry. However, it has made a name for itself due to its quality products and services.
Wahoo’s products include indoor cycling trainers and accessors, GPS cycling computers and sports watches, heart rate monitors, advanced road pedal systems, and the Wahoo SUF training app. Similarly, its products have received various positive reviews due to their quality. Wahoo is one of Peloton’s competitors and offers a great alternative to its products.
Conclusion
Peloton is an American company that specializes in fitness equipment, including bikes and treadmills. The company has gained popularity due to its quality products. However, it has also attracted many competitors. Peloton’s top ten competitors and alternatives are listed as above.
