After successfully reinventing the home-stationary bike, Peloton has set its sights on a new piece of equipment: the treadmill.
At the Consumer Electronics Show in Las Vegas on Tuesday, the company announced the Peloton Tread. The $3,995 internet-connected treadmill will offer on-demand boot camp and circuit-style classes. Like the Peloton bike, it will span various workout styles, music tastes, and skill speed. One can do a mild 10-minute walk or a challenging 60-minute interval run.
Founder and CEO John Foley tells Fast Company that Peloton wants to make running and walking more exciting by combining it with off-machine circuit moves, like burpees, lunges, and push-ups. Peloton, it can be said, is trying to boost a workout machine that is often dreaded by fitness enthusiasts—or at best, one that is relegated to the corner of the living room once New Year’s resolutions wear off.
“Running on a treadmill is not necessarily something you jump out of bed in the morning and are excited to do,” concedes Foley. “You generally don’t look forward to it, but you do it because you’re disciplined …. With our content, software, community motivation, and programming, we’re going to make it super engaging and super fun.”
To that end, Peloton hired numerous bootcamp instructors and built a New York City studio dedicated to rigorous treadmill programming. There are technical tweaks that distinguish the Peloton treadmill. The HD screen–at 32 inches–is three times bigger than that of the Peloton bike. That way, when one steps off the treadmill to pick up weights or do the guided core exercises, he or she still has a great, immersive view.
Similar connected workouts already exist, such as the Studio app, which brings the benefits of group classes to one’s traditional treadmill. Peloton differs in that it’s a complete physical product built specifically for virtual communal exercise mimicking that of boutique high-intensity workout classes.
Although Foley is quick to point out that the company’s success is really pushed by its more intangible efforts.
“It’s not about the hardware,” he says. “It’s about the content and the community that makes this a special experience.”
Currently, Peloton boasts 8,000 on-demand streaming classes and over 600,00 subscribers. In the last year, the New-York based company grew its retail presence with 12 new showrooms to a total of 29. Last May, Peloton raised $325 million Series E Financing, one of the largest investments last year in digital health.
The treadmill market is five times bigger than the stationary bike market, says Foley, and Peloton fans routinely ask for one.
With the addition of a new monthly financing program to make its products more affordable to the masses, Peloton may very well corner the home exercise equipment market.
“We will have a third product in the next year or two–we’re already working on that,” promises Foley. “And there will be more platforms to allow you to get your heart rate up.”