Peloton said it is launching a corporate wellness program for companies operating in the US, UK, Canada, and Germany, with plans to roll out in Australia later in 2021.
The connected fitness company has been branching out into new areas after demand surged during the COVID-19 pandemic. For instance, Peloton bought Precor to improve its supply chain and gain access to brick-and-mortar gym equipment. However, a foray into treadmills resulted in a recall and fourth-quarter charge. In addition, Peloton is facing competition on multiple fronts.
Corporate wellness programs have been popular among digital health players, including Google's Fitbit and Apple. For Peloton, corporate wellness may enable the company to link its subscriptions from home to gym to work.
Peloton President William Lynch said the company's corporate wellness program is a "natural extension" to scale. During the first three months of 2021, Peloton delivered 171 million workouts on its platform, with users averaging 26 workouts a month as of May 2021.
Under the corporate wellness program, organizations can offer subsidized access to Peloton Digital and All Access Membership and exclusives on connected fitness products. The corporate wellness program also offers engagement tools, administrative tools, and analytics.
Customers for Peloton Corporate Wellness include Wayfair, Samsung, SAP, Accenture, and Sky. Employees at these companies are receiving free Peloton App access and other benefits.
Peloton added that Peloton Corporate Wellness would include community tools such as Tags, which enable members to find workout partners, and Sessions, a group workout tool.
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