Founded in 2012 and assisted by a Kickstarter campaign in 2013, Peloton is a fitness equipment and online subscription company based in New York. The company's flagship product is a stationary bike which consumers can use to exercise on their own or participate in online classes as part of a monthly subscription. Peloton has seen an enormous growth in its revenue in recent years, include a fourfold increase in revenue from 2019 to 2021. This huge increase is, in part, as a result of the coronavirus pandemic, which saw the closure of gyms across the world and forced millions of fitness fans to find ways of keeping in shape within their own home.
More subscriptions and more workouts
The online subscription service offered by Peloton gives users access to a wide range of fitness classes from yoga and meditation to cycling and running. The number of Peloton subscriptions worldwide exceeded the one million mark for the first time in the final quarter of 2020. Furthermore, the number of workouts completed through the online service has also boomed. While the number of workouts taken part in stood at just over seven million in the first quarter of 2019, this figure rose to almost 100 million by 2021.
Instructors keep fitness fans coming back for more
Some of the online Peloton fitness instructors who put users through their paces have become minor celebrities, garnering a loyal following both on the app and across social media. As a result, the average monthly workouts completed per subscription on the Peloton service has increased year over year. While an average of 8.4 workouts were completed per subscription each month in 2018, this number rose to 22 in 2021, before falling again to 16.4 in 2022.
Annual revenue of Peloton worldwide from 2017 to 2022
(in million U.S. dollars)
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Peloton. (September 7, 2022). Annual revenue of Peloton worldwide from 2017 to 2022 (in million U.S. dollars) [Graph]. In Statista. Retrieved February 01, 2023, from https://www.statista.com/statistics/935875/peloton-revenue/
Peloton. "Annual revenue of Peloton worldwide from 2017 to 2022 (in million U.S. dollars)." Chart. September 7, 2022. Statista. Accessed February 01, 2023. https://www.statista.com/statistics/935875/peloton-revenue/
Peloton. (2022). Annual revenue of Peloton worldwide from 2017 to 2022 (in million U.S. dollars). Statista. Statista Inc.. Accessed: February 01, 2023. https://www.statista.com/statistics/935875/peloton-revenue/
Peloton. "Annual Revenue of Peloton Worldwide from 2017 to 2022 (in Million U.S. Dollars)." Statista, Statista Inc., 7 Sep 2022, https://www.statista.com/statistics/935875/peloton-revenue/
Peloton, Annual revenue of Peloton worldwide from 2017 to 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/935875/peloton-revenue/ (last visited February 01, 2023)
Annual revenue of Peloton worldwide from 2017 to 2022 (in million U.S. dollars) [Graph], Peloton, September 7, 2022. [Online]. Available: https://www.statista.com/statistics/935875/peloton-revenue/