Home Fitness Leader Peloton Unveils New Bike, New Treadmill And Lower Prices Today

I was the first person I know to get a Peloton bike, more than four years ago, and have remained a big fan ever since. Now I am an even bigger fan now than when I wrote about the “new” bike here at Forbes in a story accurately titled “The Best Home Workout & Fitness Machine.” That is because Peloton has rolled out more and newer products and immensely expanded its class offerings, not just for the bike, but also for runners and every other imaginable workout and wellness pursuit from bootcamps and strength training to yoga and meditation. For several reasons, including world class instructors, an unrivalled on-demand library, excellent hardware and a value priced versatile App, Peloton has grown to be one of the world’s most beloved fitness platforms with well over two and half million paying members. The new products make the platform even more affordable and accessible.

Today’s release is the biggest news from the company in a long time: Peloton is introducing an all new bike and all new treadmill. At the same time, it is substantially lowering the price on the old bike, while the new treadmill will hit the scene at about half the cost of the existing model.

All of this means cheaper and better access to great home workouts at a time when home fitness is more popular and in demand than ever. For obvious pandemic induced reasons, sales of home fitness equipment have exploded, and Peloton was sold out this spring. They are back and in a big way. Here’s the scoop. (I’m not going to rehash all the details of what makes the class offerings and App so incredible, but you can read much more about this in a piece I wrote at the beginning of the pandemic on working out at home).

The new Peloton Bike+ went on sale at 7AM this morning and adds some of the most member-requested hardware and software features. It was designed to further total body workouts and makes it easier to complement an indoor cycling class with Peloton’s strength, yoga, stretching and meditation classes – all from the Bike+. The new model features a 23.8” rotating (180 degrees left and right) HD touchscreen so users can easily transition between cycling classes and floor-based workouts with the same display. A high-fidelity four-speaker sound system offers clearer sound and better quality for both music and following the Instructor’s workout. Users who track their metrics can now pair an Apple Watch with the Bike+ with just a tap, and the new model adds Auto-Follow, an optional touch-free software program that automatically scales your resistance, based on Target Metrics. Throughout the classes, the digitally-controlled resistance remembers where you fall within the Target Metrics and automatically adjusts based on instructor guidance, allowing you to fully immerse yourself in the class.

The Bike + costs $2,495 while the price of the original Peloton bike drops about four hundred bucks to $1,895, with a special financing offer of less than $50 a month. There are similar financing packages on the other products. Owners of the original Peloton Bike in the U.S. who want to upgrade can trade in their old bike for a $700 credit, including removal of the current model.

The new Peloton Tread does not arrive here until early 2021, though it is going on sale in the United Kingdom the day after Christmas. The current Tread will now be known as the Tread + and still runs $4,295 while the new entry level treadmill is just $2,495. This essentially doubles the Peloton hardware portfolio and will include two versions of both the bike and treadmill. The new Tread has a smaller footprint and no front shroud for homes with less space, and a 23.8” HD touchscreen with integrated speakers which tilts up and down 50 degrees for the same purpose as the new Bike+, to make off the treadmill floor workouts easier to integrate.

On the class side, Peloton is also introducing a new category called Bike Bootcamp. This new class format available to all Peloton members, starting September 15. Instructors will guide members through a total body workout, integrating strength training and cycling for a dynamic combination workout on and off the bikes.  The Peloton App subscription, which includes over 10,000 class in nearly a dozen indoor and outdoor fitness program and works across a wide variety of digital platforms, requires no brand specific hardware at all, and remains a fantastic bargain in the world of fitness at under thirteen dollars a month.

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