Peloton has announced a partnership with TikTok.
Courtesy of: Peloton
Peloton has launched a partnership with TikTok on Thursday in an effort to change its public perception and attract a wider range of customers amidst declining sales and profits.
The partnership will establish a new fitness hub on the social media platform called “#TikTokFitness Powered by Peloton.” This hub will showcase short-form fitness videos, longer live classes, content from Peloton’s instructors, and collaborations with TikTok creators.
Following the announcement, Peloton’s shares surged over 15% and closed approximately 14% higher.
This move comes approximately six months after Peloton rebranded itself as a fitness company “for all” and introduced a tiered pricing strategy for its app. These changes were aimed at positioning Peloton as more than just a bike company and attracting new customers who may not have been able to afford its expensive connected fitness equipment but might be interested in a monthly subscription for its…
2024-01-04 16:45:36
Link from www.cnbc.com
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