Peloton aims for an epic comeback before the holidays.
The company is struggling after meteor rise during the pandemic.
That latest release? A $6,695 treadmill equipped with AI and a suite of other AI-enabled exercise equipment.
Peloton is overhauling the entire cross-training series with new personalization features and movement tracking cameras that provide all-AI-powered feedback.
On Wednesday, Fitness Equipment Company launched five new releases, including a refreshed version of the bike and treadmill, as well as a new rowing machine. High-end Bike+, Tread+, and Row+ come with Peloton IQ, an AI-powered coaching system that provides real-time feedback on the form, counts reps, and proposes weight adjustments and training plans to mimic personal trainers.
The upgrade also features an “advanced” swivel screen designed to smooth the switch from bike sessions to off-bike classes such as yoga and strength training, as well as faster WiFi.
New offers will involve price increases. The original bike jumped from $150 to $1,695, while the bike+ priced at $2,695, an increase of $200. The base treadmill is currently at $300, at $3,295, while the tread+ is up from $700 to $6,695. Monthly membership fees also increased from $5 to $49.99 for the first time in three years.
“Given the incredible breadth of our content (over 50,000 classes) and ongoing innovation, Peloton continues to offer unparalleled value compared to most gym memberships, boutique fitness classes or personal trainers.”
Related Stories
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
“Peloton firmly believes that AI is a powerful tool to enhance world-class instructors rather than replace them,” the spokesman added.
Peloton's big bet on AI is the first major product change based on CEO Peter Stern, a former Apple and Ford executive who was tasked with reviving the struggling fitness company. Stern, who took over in January, also announced a 6% layoff of the company's workforce in August.
Since 2020, Peloton has cycled through four chief marketing officers and has paid a $19 million fine to the Consumer Product Safety Commission following recalls of 125,000 unsafe treadmills.
Since Peloton's stock peaked in January 2021, its shares have plummeted more than 90%. It is difficult to say that the launch of a new product has linked investor optimism.
The stock jumped to pre-market trading on news of the product's launch, but fell all day. As of market closure time on Wednesday, Peloton stocks fell 3.67% compared to the previous day.
Peloton did not immediately respond to requests for comment.
