From Spotify to Pilates & Hyrox, Peloton Charts Life Beyond the Bike

At the ATN Innovation Summit in NYC, Peloton chief commercial officer Dion Camp Sanders laid out the company’s new strategies including a push into gym equipment, a content deal with Spotify and a partnership with Hyrox

Peloton wants the industry to know it is no longer a bike company.

It’s a message that the connected fitness brand has been driving home for several years now, as it sets its sights on an all-encompassing wellness universe that can help Peloton re-grow its shrinking paid subscriber base.

At this month’s ATN Innovation Summit 2026, Peloton’s chief commercial officer, Dion Camp Sanders, outlined the trajectory of Peloton’s growth in a fireside chat with Athletech News founder and CEO Edward Hertzman.

Sanders, who has held the commercial role since April 2025 and joined Peloton in January 2019, began by reflecting on the company’s transformation. 

When he came aboard, roughly 85% of revenue came from a single product — the original Peloton bike — and the company counted fewer than 400,000 connected fitness subscribers.

Today, about two-thirds of revenue is recurring, Peloton’s hardware lineup spans five fitness products, and distribution runs through third-party retail, B2B and commercial channels alongside the fervent direct-to-consumer business that built the brand.

Spotify Opens a Door

One of the major partnerships Peloton has forged under CEO Peter Stern is its deal with audio giant Spotify, which launched with Peloton 1,400 classes across formats including Pilates, yoga, stretching and meditation, with hundreds more on the way.

Sanders described it as a content licensing deal, pairing two exciting and culturally relevant brands.

“We partnered with them to effectively power and become the foundation of their fitness hub,” Sanders said, adding that the reach is massive.

Since launch, roughly 40% of all classes have been taken in markets where Peloton does not sell directly, he said.

“It’s literally mainly a vehicle for us to reach new people,” Sanders said.

Going Commercial

Sanders also turned to Peloton’s growing commercial business unit, built on Precor, the equipment maker Peloton acquired in 2021. Precor’s machines sit in 80,000 gyms across more than 60 countries, and Peloton is leveraging that reach and footprint to expand its opportunities. Last year the company folded Precor together with its Peloton for Business arm to form the unit.

This spring, Peloton announced its Commercial Series to sell equipment directly to gyms and other fitness facilities, starting with a Bike and a Tread and set to ship this fall. The machines are heavy-use, industrial-grade hardware built for high-traffic gym floors, paired with content and software tuned for operators.

Peloton runs a set of connected apps too, including Peloton Strength+, a breathwork app and a beta for one-on-one virtual personal training with Trainwell.

“Any activity that you engage in across those services all gets linked to your Peloton profile, all shows up in your Peloton workout history, and all counts towards your streaks, your badges and your Club Peloton loyalty and rewards points,” Sanders said. “It’s like a fully integrated experience that enables us to serve our members whenever and wherever they want.”

Cardio Was Just the Start

Looking ahead, Sanders said the goal over the next several years is to evolve Peloton from its origins as a connected cardio company into a broader connected wellness company.

The categories on that list, he said, include strength and mobility, nutrition and hydration, mental well-being, sleep and recovery. Strength is already paying off. Last quarter, more than two million members completed strength workouts on the platform, making it the biggest and fastest-growing use case after cycling, Sanders said.

He also pointed to the pull of Peloton’s 57 instructors, many of whom have become high-profile names in their own right, and said the company will keep investing and innovating there.

On community, Sanders made the case for stickiness. 

“I’d say the key thing about Peloton, in terms of the community, is you’re never alone, you’re always having an opportunity to go through it with other people who want to have shared experiences,” he said. “It’s one of the reasons why people choose us in the first place, and why they stick with us over time, and it’s why Peloton has some of the best engagement, retention and some of the lowest churn in the fitness space.”

Beyond Club Peloton, its loyalty program that rewards members for consistency and community engagement with perks like exclusive events and apparel discounts, Peloton is leaning into real-life events, too, with past activations around Formula 1 and its partnership with Liverpool Football Club in the U.K.

It’s fair to say that Pilates may soon become a bigger part of Peloton’s orbit. The usage of its existing Pilates content grew 48% year over year last quarter, and the company recently acquired Skōp, the startup behind a roughly $8,000 connected reformer.

Then there’s the other end of the spectrum: the members who want to race. When asked about the rise of competitive fitness, Sanders noted an opening.

“We’ve done some collaboration with Hyrox, a lot of our instructors are sort of teaching content that gets people ready for Hyrox races,” he said of the popular fitness racing format, adding Peloton wants to lean further into readying members for competition through structured training programs.

It’s a telling pair of moves, one courting the low-impact Pilates crowd and the endurance set grinding through sled pushes and wall balls. Notably, both point to the same ambition that Sanders kept circling back to: meeting members everywhere, whether that’s a Pilates studio, a hotel room or the Hyrox start line.

This article is based on a live discussion held during the ATN Innovation Summit 2026, a two-day event dedicated to the future of fitness and wellness. See here for More Innovation Summit coverage.