Question: What is the most money that you have ever spent for exercise equipment or an activity?
Peloton is releasing a lower-priced treadmill to become more than a purveyor of high-end stationary-bikes. The public company, which reported revenue of more than $1 billion for the quarter ending in December, already has one treadmill on the market, called Tread+, which has earned celebrity endorsements from the likes of Miley Cyrus and Lizzo who regularly post about their Treads on social media.Peloton (PTON) is best known for its stationary bikes that cost between$1,895 and $2,495, but it’s hoping to build out its brand, said Betina Evancha, Peloton’s vice president of product management. “We want Peloton to be a fitness brand, a wellness brand, and so the Tread is a big part of that story. “The Tread+ retails for $4,295, but the new Tread, to be released on May 27 in the United States, is meant to make the experience of the Tread+ “more accessible to more folks,” according to Evancha. It will cost $2,495 and will be a few inches slimmer. Peloton also sells fitness subscriptions, which can be used to take Pilates, weight lifting, yoga and other classes. The company said it has 4.4 million members, which includes people who have subscriptions as well as multiple people sharing a single subscription.(You can use your Tread without subscribing, but you can take only a few free classes or simply run on your own.)