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Peloton will increase monthly fees for on-demand fitness content

April 14 (Reuters) – Peloton Interactive Inc (PTON.O) said on Thursday it was increasing monthly fees for its on-demand fitness content in the United States and Canada, while cutting prices for its Bike machines, Bike+ and Tread in all markets as it seeks to attract more customers.

The move comes a day after shareholder Blackwells Capital said the exercise equipment maker had failed to deliver on promises to transform the business. Read more

The hike, first reported by CNBC, will be effective from June 1 and comes after eight years of no price increase.

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The price of Peloton’s all-access subscription plan in the United States will increase to $44 per month, from $39, while in Canada the fee will increase to $55 per month from $49, said society in a blog post.

A stationary bike inside a Peloton store is pictured in the Manhattan borough of New York, U.S., January 25, 2022. REUTERS/Carlo Allegri/File Photo

Rates for international members will remain unchanged. He did not specify the equipment price reductions.

As Peloton has become a pandemic-era darling, its share price has come under pressure as people have returned to gyms, with shares having fallen around 30% since December last year.

Peloton has been exploring various pricing models in select U.S. markets as it seeks to return profitably with the company’s launch of its bodybuilding product, Peloton Guide earlier this month at a starting price of $295. about 40% lower than he originally expected. Read more

Platoon shares jumped as much as 6% before reversing the trend to trade down 1.3%

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Reporting by Kannaki Deka in Bangalore; Editing by Shailesh Kuber

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