Peloton's original bike price drops $400 after poor earning results

Posted:
in General Discussion
Peloton is hoping to lure in new customers by dropping the price of its original smart fitness bike to $1,495 -- $400 cheaper than its original price tag.

Peloton Bike now $400 cheaper
Peloton Bike now $400 cheaper


The $400 price drop arrives after a worse than expected quarterly earnings result. Peloton, however, sees it as an opportunity to drive new user growth and more subscription revenue.

According to The Verge, Peloton grew less than expected and lost more than it had predicted. The company had a net loss of $313 million for its fiscal Q4.

This isn't the first price drop for the Bike. It originally cost $2,245 and was dropped to $1,895 in September 2020 after the Bike Plus launched.

Customers will still need the $40 per month subscription service to get the most out of the Bike. Subscription revenue is a big growth area for Peloton and it saw a 158.9% year-over-year growth in subscription gross profit.

The Peloton Bike is now $1,495 and can be purchased on the Peloton website.

The Peloton Bike doesn't have Apple Gym Kit integration, but users can still track basic cycling workouts via Apple Watch. The Peloton membership subscription is a direct competitor with Apple Fitness+, though Peloton welcomes the competition.

Read on AppleInsider

Comments

  • Reply 1 of 8
    eightzeroeightzero Posts: 2,772member
    Ha. Remember when Steve did that with the original iPhone? Apple dropped the price to "lure new customers" and those that bought at the original price were understandably outraged. Nice way to treat an early adopting, loyal customer.

    Steve promised and made rebates. Wonder if Peloton will. 
  • Reply 2 of 8
    eightzero said:
    Ha. Remember when Steve did that with the original iPhone? Apple dropped the price to "lure new customers" and those that bought at the original price were understandably outraged. Nice way to treat an early adopting, loyal customer.

    Steve promised and made rebates. Wonder if Peloton will.

    I remember that. I paid full price for my original iPhone. However, Apple gave me a $100 gift card (after the price reduction) and my boss at the time was so impressed with my new phone that he cut me a check for half the cost ($300). I came out of it okay.


  • Reply 3 of 8
    MacProMacPro Posts: 19,523member
    $400 might be the right price.
    hammeroftruthhcrefugee
  • Reply 4 of 8
    Looks like they don’t have a captive audience anymore. People can leave their house and use a regular bike now. 
    darkvader
  • Reply 5 of 8
    Still too expensive for a clothes rack/dust collector.
    darkvaderdavgreg
  • Reply 6 of 8
    MacPro said:
    $400 might be the right price.

    Nah, that's still at least $350 too much.
  • Reply 7 of 8
    davgregdavgreg Posts: 995member
    Always thought the Peloton was an IQ test and if your spent $2k on an exercise bike you lost as hopelessly foolish.
  • Reply 8 of 8
    They have the wrong model. Give the bikes away and charge subscriptions... ;)
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