Peloton crushed at-home fitness among homebound consumers in 2020, and, now, the "Netflix of wellness" is eyeing the employer market.
Peloton, the at-home studio cycle maker that has gained a cult following, has launched a corporate wellness program for businesses operating in the U.S., the U.K., Canada and Germany, with Australia coming later this year.
Wayfair, Samsung, SAP, Accenture Interactive—part of Accenture—and Sky in the U.K. have signed up to pilot Peloton's corporate wellness service.
Employees of partner companies won't get a subsidized Peloton bike, but membership perks will get them Peloton content and connected fitness.
"The same Peloton experience loved by more than 5.4 million members is now available to organizations who are committed to providing employees access to innovative mental and physical health resources," company executives said in a press release.
The corporate wellness program makes the Peloton experience more accessible, according to Peloton’s president William Lynch.
“Over the years, we’ve worked hard to help our members achieve healthier and happier lifestyles. Peloton Corporate Wellness is the natural extension for us to be able to scale that offering. Together with our Corporate Wellness partners, we’re now able to share the experience with millions more while also driving stronger culture and community within the workplace," Lynch said.
Employers and businesses can offer subsidized access to Peloton digital and all-access memberships as well as exclusive benefits on connected fitness products. Employer partners also will get access to tailored enterprise features to help drive strong engagement, reduce administrative workload and measure impact, according to the company.
Peloton executives say the move into the employer market is about more than just helping employees work up a sweat. The corporate wellness program can help organizations drive employee engagement and retention.
The fitness startup has gained a following through its community-first features like tags, which help members find other members with similar interests on the leaderboard, and sessions to make it easier to workout with a group.
As homebound consumers looked for ways to stay fit during the COVID-19 pandemic, they stocked up on high-tech Peloton studio bikes and treadmills.
The pandemic has been profitable for the trendy brand. Peloton announced its first-ever quarterly profit in September 2020, which was bolstered by a 172% surge in sales and more than 1 million people subscribing to its streaming classes, CNN reported.
During just the first three months of 2021, total workouts on the platform grew to 171 million, an increase from 48 million in the same time period last year. As of May 2021, members averaged 26 workouts per month, Peloton reported.
The company reports that surveyed members in the U.S., U.K, Canada, and Germany credit the connected fitness platform with helping improve their mental health (65%) and making them more productive at work (64%).
For the employers who have signed on, eligible employees will get free access to the Peloton app and exclusive benefits on connected fitness products to support team building and healthy habits.
“We heard from partners that they need flexible employee wellness solutions that can meet the evolving demands of a modern workforce,” said Cassidy Rouse, global general manager of Peloton corporate wellness, in a statement.
Peloton is not the only fitness company looking to expand into corporate wellness programs.
Gympass, a company that bills itself as the world’s largest corporate wellness benefits platform, is partnering with Yes Health to provide Gympass clients with an all-mobile diabetes prevention program. It marks a unique partnership between a fitness solution and a chronic disease management platform to offer employers a more holistic platform for wellness.