Apple Launches Fitness+ Platform; Peloton Shares Lower
Apple (AAPL) – Get Report shares are higher and Peloton — the connected-fitness company — is lower after the computer and iPhone giant launched Apple Fitness+, which brings studio-style workouts to the iPhone, iPad and Apple TV.
The service is launching with 10 popular workout types, including high-intensity interval training, strength training, yoga, dance and others, that will be led by a team of Apple trainers.
Apple Fitness+ brings together “the metrics from Apple Watch, great music, and a diverse and inspiring trainer team — in a uniquely simple, easy-to-access way across devices — to encourage our users to get fit and stay healthy,” said Jay Blahnik, the Cupertino, Calif., company’s senior director of fitness technologies.
The company plans to integrate Fitness+ with personal metrics from Apple Watch users to provide an “engaging and immersive experience” and motivate users.
There will also be a competitive element to the interval training, treadmill, cycling and rowing workouts. A “Burn Bar” will show in real time how a user’s effort compares against those who have previously completed the same workout.
Apple Fitness+ is a subscription service costing $9.99 per month or $79.99 per year. The subscription can be shared among up to six family members for that price.
Shares of home fitness company Peloton (PTON) – Get Report dropped on the news as Apple could be a big new competitor in the connected-fitness space.
Peloton has begun recruiting celebrity endorsements to boost its market share.
Last month, Peloton said it was teaming up with Beyoncé to bring new workout experiences to Peloton users.
The exclusive content with the Grammy award winning singer will be available on the Peloton app, which has a free 30-day trial period, as well as through the Peloton Bike, Bike+ and Tread+.
At last check Apple shares were little changed at $123.67 while Peloton fell 1.7% to $114.71.
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