Virtual cycling classes can help you pedal off pounds
CHICAGO - With the exception of Jane Fonda’s original workout tapes, recently re-released on DVD, today’s home workouts look a little different than their ‘80s-era predecessors.
Health clubs like Crunch and specialized studios like The Bar Method offer fitness classes that stream online. That’s not to mention the hundreds of websites and YouTube channels that promise to get you sweating, no gym trip required.
Fitness company Peloton is trying to bring even more of the Soul Cycle or Fl ywheelstyle boutique cycling studio experience into people’s homes, said Peloton Chief Revenue Officer Tim Shannehan.
Peloton makes variable resistance stationary bikes outfitted with 22-inch “sweatproof ” HD screens that let users connect to live classes going on in real time at Peloton’s New York location - a combination cycling studio and video production facility.
Home cyclists can log on for one of the 10 to 12 classes held each day, where their workout stats might earn them a spot on a leader board ranking top performers, or an instructor might call them out by name just like the in-person participants.
Those who can’t make the live classes or just prefer a particular workout, instructor, music style or class length can also choose from a lineup of pre-recorded classes - like Netflix, but for workout fanatics, not binge-watching couch potatoes.
“It’s super engaging, and your competitive juices really start flowing,” Shannehan said. “You push yourself harder than you would have if you were sitting on an old-school bike, watching the baseball game.”
The bikes - sold at cost, according to Shannehan - run $1,995, plus a $39-permonth membership granting unlimited access to live and archived classes. By comparison, a class at Flywheel costs $28, or $270 per month for unlimited classes.
Peloton sells the bikes, accessories and apparel on its website and in its showrooms, the first of which opened in New Jersey in November 2013.
“It’s such a new product in the home fitness space. We learned people wanted the ability to get on, experience a class and dive into the actual experience,” Shannehan said.
Peloton has sold more than 33,000 bikes since its founding in 2012. According to spokeswoman Jaime Kinsley, Peloton made $50 million in revenue in 2015 and has been profitable since the end of 2015, helped by a “triple play” of cold weather, holidays and New Year’s resolutions that boosted December and January sales.
Most of Peloton’s customers are health-conscious 35- to 55-year-olds, often in affluent suburbs of major cities, Shannehan said. Some don’t have easy access to specialized studio workouts either because they don’t live nearby or have jobs, families and no time. Others like the studio experience but want to supplement with in-home riding, Shannehan said.
Home is the most popular workout spot for Americans who exercise regularly, according to a 2015 report from market research firm Mintel. About 60 percent of adults surveyed worked out at home, while just under 40 percent had exercised at a fitness club or gym. A third of those Mintel surveyed said they were interested in online workouts, with 12 percent saying they have streamed fitness videos online.
While only 17 percent of U.S. adults reported having a membership at a specialty studio or paying for individual visits, that’s partly because studios are only found in urban areas, said Mintel health and wellness analyst Marissa Gilbert.
“If Peloton can take the cycling trend that’s become so big in urban centers and bring that energy in the home, that could be very successful,” Gilbert said.
Peloton could also join workout brands trying to tap into weekend warriors’ data obsession.
Slightly less than 20 percent of Americans use wearable fitness trackers and fitness apps, but an additional 30 percent say they’re interested, according to Mintel’s data.
In addition to showing the instructors, the bike’s screen can display stats including cadence, or speed, output and heart rate. It also has a leader board where cyclists can see how they stack up to classmates and what they’d need to do to catch up to a higher-ranked rider. Eventually, Peloton plans to add features that would let riders compare themselves with others in their age group and trash-talk or encourage friends, Shannehan said.
Studio Three, which opened in Chicago in November and offers cycling classes, interval training and yoga, has about 60 Peloton bikes. There’s also a television studio that will eventually let Studio Three produce live and recorded classes to add to those from Peloton’s New York studio, Kinsley said.
“We felt the bike they created is the best of the best,” said David Blitz, managing partner of BlitzLake Partners, the firm behind Studio Three.
But Shannehan said Peloton doesn’t plan to sell to additional gyms, partly because it doesn’t want to compete with cycling studios.
“We’re cheering for everyone in the space,” he said. “We have a lot of riders who do both, and we think it’s great because it’s more awareness for the category.”