Peloton Doubles Down on Community With New Teams Feature
Peloton’s new CEO, Peter Stern, acknowledges the company’s progress in recent quarters but says there’s still a “tall hill” to climb. Could community be the ticket?
Peloton is building on Teams, a newer community feature that the connected fitness leader launched last September in its app.
What began as a way for members to create small groups of friends and family has now been expanded following widespread adoption. Since its fall launch, 70,000 teams have been created, according to Peloton.
In many ways, the connected fitness company is returning to its roots. In this month’s shareholder letter, Peloton reminded investors that its name comes from the pack of cyclists who ride closely together to reduce resistance—allowing them to go further, faster.
Utilizing member feedback, Peloton is now expanding the functionality of Teams, allowing them to host up to 50,000 members. Users can explore teams based on popularity, profile tags, featured community teams or by searching for a team name or description. The update also introduces new engagement opportunities, enabling users to celebrate team members’ milestones, leave comments and react with emojis. Additionally, team administrators have enhanced admin controls and can now set leaderboard goals, such as target distances for running, walking, cycling or rowing.
Peloton is leaning into the desires and experiences of its community of six million members, following a survey showing that nearly 70% of respondents found online communities or Teams with friends and family to be “relevant to achieving their fitness goals,” serving as a motivating tool that helps them stay accountable while competing in a fun environment.
Along with community building, Peloton is also bullish on strength, having introduced Strength+ last December. The new app offers strength training programs featuring a custom workout generator and audio guidance.
On Peloton’s earnings call this month with investors, new Peloton president and CEO Peter Stern emphasized the vision the connected fitness brand has on meeting members wherever they are. Stern, an Apple Fitness+ co-founder, was appointed to his role late last October.
“There are lots of companies that make fitness equipment, dozens of fitness apps, countless trainers, but there is only one Peloton,” Stern said. “That’s because we combine the best hardware, the best software, and the best human coaches with the world’s most supportive community. That’s our magic formula. And when we get it right, we are unstoppable. Winning is about focusing on what matters most, improving outcomes for our members, meeting them in more places, and deepening the connections between them and Peloton, as well as with each other.”