While gyms, boutique studios, and personal trainers have been sidelined, home workout systems are thriving. Peloton is emerging as a potential winner of the quarantine economy.
Since mid-March, Peloton’s stock has soared 95 percent, valuing the New York company at $10 billion. Last month, Peloton reported a record: More than 23,000 people had joined one of its live classes.
Demand is on an uphill climb: “The demand is through the roof,” John Foley, the chief executive, said in an interview. “It’s not just people wanting more bikes, but if they have one, they’re using it more.”
Peloton’s 2.6 million paying members worked out an average of 18 times a month, up from 13 in the previous quarter.
But at what cost? With gyms closed and nowhere to go, more people are shelling out $2,245 for the workout bike. Their quads are going look great, though.