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Peloton became most famous for its classic Bike, a stationary bicycle with a touchscreen that, since 2014, has allowed anyone anywhere to take a virtual spin class. Since the introduction of the Bike, the brand has rolled out an upgraded version, plus two kinds of treadmills and one rowing machine. The first big announcement of the day has to do with all those products: The five-part lineup is staying the same, but the Bike, Bike+, Tread, Tread+, and Row all got a significant makeover.
The Cross Training Bike
The Cross Training Tread
The Cross Training Row+
Of particular note is what comes with the Plus line, or any device with a "+" after the name. Those all have a built-in, movement-tracking camera that will monitor your form, count your reps, and help the software suggest weights for you to use in your strength workouts. I tested it out yesterday at Peloton Studios in New York and was impressed. (If you recall, a few months ago, Peloton phased out the Guide, a camera that connected to users' TVs and did a much rougher version of what these built-in cameras are now going to do. We should have seen this new integration coming then.)
Peloton IQ
The brand also announced the launch of its AI component, Peloton IQ. Remember how I mentioned the Plus line allows for voice commands? You can say, "OK, Peloton, skip this exercise," or "OK, Peloton, pause this workout." That's pretty useful if you're, say, doing a lift or yoga exercise and your touchscreen isn't within reach.
Still, the most advanced features of Peloton IQ are only available on the new Plus line, since those devices have the movement-tracking camera that enables the AI to give feedback, correct form, count reps, and suggest weights. The Plus line also allows for self-paced strength workouts similar to the ones you can find on Peloton's Strength+ app. Instead of following along with a class and instructor, you can generate a workout plan that simply walks you through a series of exercises and you can go at your own speed. You can pick your target muscle groups, deny exercises you don't want to do, and change the weight you're using for a totally custom experience.
On your Peloton app, you'll also now see something called Club Peloton, which is a recognition program that rewards you for consistency and variety in your workouts. You'll be assigned a level—bronze, silver, gold, or legendary—based on things like workout streaks or trying new types of exercises. Reps told me at the demo event that Club Peloton will eventually evolve to start giving back. For instance, members of a certain level may be eligible for discounts on certain items or to get early access to classes.
Peloton pricing
Peloton's prices are going up, which isn't exactly a surprise. The company's letter to investors during the last earning period hinted at that and it's to be expected with all these new features rolling out. At least now it finally makes sense why Bikes, Treads, and Rows were being phased out at sporting goods stores a few months ago, and Peloton launched its own resale platform over the summer for people who want to sell their old equipment: We're getting a whole new fleet of devices.
All-Access Membership goes up from $44 to $49.99 per month
App One Membership goes up from $12.99 to $15.99
The Cross Training Bike is $1,695 (plus $150 for expert assembly if you don't want to do it yourself for free)
The Cross Training Tread is $3,295 (plus $150 for optional expert assembly)
The Cross Training Row+ is $3,495 (plus $150 for optional expert assembly
Final notes and first impressions
From what I saw during demos, these are genuinely solid improvements. Even the swiveling screens, fans, and phone tray are nice touches, since those are the kinds of things Peloton users have been paying extra to third parties to get for years.
Over the next month, there will be promotions available so anyone who wants to upgrade to a new piece of equipment can do it more economically. As I find out more about those, I'll keep you updated. Personally, after all of yesterday's demos, I'm already pretty sure it's about time for me to retire my classic Bike and invest in the new Bike+.
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