ONLINE FITNESS

➡ Peloton announced it generated $607 million in revenue in the quarter that ended June 30, up 172 percent from the same quarter last year. The company doubled its membership base and also reported that average usage per subscriber doubled—Peloton subscribers (which can be households) completed an average of 24.7 workouts per month, up from 12 in the same period last year. In a bid to attract more members, the company recently cut the price of its base-level bike from $2,245 to $1,895. It’s no surprise that Peloton’s offline competitors are moving into the online space: Barry’s Bootcamp offers at-home classes starting every 15 minutes, gyms like Equinox are streaming classes online, and Lululemon acquired the home-fitness brand Mirror in July for $500 million.