Peloton increases monthly app subscription cost by $6 in Canada
Fitness company Peloton has revealed plans to raise its monthly app subscription fee in Canada and the United States, while also cutting the cost of its Bike, Bike+ and Tread products.
As of June 1st, Peloton’s all-access plan will increase by $6 CAD per month in Canada ($55 CAD/month) and $5 USD per month ($44 USD/month) in the United States. The fitness company says it has no plans to increase its subscription cost in other regions, and that its digital-only plan price will remain the same.
Peloton has also slashed the price of several of its products. The cost of its standard spin Bike is now $1,195 USD ($1,504 CAD), a decrease of $300 USD (about $375 CAD), the high-end Bike+ dropped $500 USD (roughly $629 CAD) to $1,995 USD (about $2,511 CAD) and its fitness treadmill now costs $2,345 USD (roughly $2,952 CAD), down $150 (about $188). MobileSyrup has reached out to Peloton for official confirmation of Canadian pricing.
Though Peloton’s stock skyrocketed amid the ongoing COVID-19 pandemic, its shares have fallen roughly 30 percent since December as people started to return to in-person gyms. In February, the fitness company replaced its CEO and cut 2,800 jobs (20 percent of its total workforce). At the time, rumours also circulated that Amazon, Apple and Nike were considering purchasing the company.
For more on Peloton, check out MobileSyrup telecom reporter Nida Zafar’s look at the Peloton Guide Camera and staff reporter Brad Shankar’s hands-on with the Bike+.
Image credit: Peloton