Peloton Announces Peloton For Business, Offering Full-Service Well-Being Solutions for B2B Clients

Rhea-AI Summary

Peloton (NASDAQ: PTON) has launched Peloton for Business, a B2B wellbeing solution for enterprise clients. The full-service offering includes a range of equipment and content-based solutions across seven verticals. It provides access to Peloton Bikes in commercial settings, preferred pricing on Peloton equipment, and exclusive programming through enterprise-level partnerships. In the past year, there have been over 7.5 million rides on Peloton Bikes in commercial settings, and more than 93% of clients renew the Peloton Corporate Wellness benefit.

On the heels of its brand relaunch, Peloton introduces new B2B offering designed 
to meet customers anywhere and anytime

NEW YORK, Aug. 17, 2023 /PRNewswire/ -- Today Peloton (NASDAQ: PTON) announced the launch of Peloton for Business, a unified portfolio of B2B wellbeing solutions for enterprise clients, offered across seven key verticals: Hospitality, Corporate Wellness, Multi-Family Residential, Education, Healthcare, Gyms and Community Wellness. A first-of-its-kind in B2B fitness and wellness, the full-service offering includes a range of equipment and content-based solutions, delivering on Peloton's commitment to empower anyone, anywhere, anytime.

In order to provide access to Peloton's award-winning classes for mind and body, Peloton for Business products and services offered include:

●        Commercial Bike: Access to a Peloton Bike that allows an unlimited number of users to ride at no charge to them, in hotels, multi-family residential gyms, corporate office gyms, campus recreation centers, and community wellness gyms.

●        Employee Benefit: Access to the Peloton App, preferred pricing on Peloton equipment, unique corporate engagement experiences, and an inclusive community, all through one employee benefit.

●        Partner Offers: Access to enterprise-level partnerships that deliver exclusive programming and offers for the audiences of partner brands and organizations.

This new approach streamlines and strengthens Peloton's existing B2B services, for which it was already seeing success. In the last 12 months alone, there have been more than 7.5 million rides taken on Peloton Bikes in commercial settings globally. Additionally, Peloton saw industry-high retention rates among enterprises that offer team members the Peloton Corporate Wellness benefit, with more than 93 percent of clients renewing year over year.

Reinforcing its commitment to the B2B marketplace as a strategic growth driver for the business, Peloton has created a leadership role that will oversee this function. Greg Hybl, a leader with more than 20 years in the strategic partnership, commercial, and business development spaces, has been appointed Senior Vice President and General Manager of Peloton for Business. Hybl joins Peloton from American Express where he led a team responsible for strategic partnerships.

"I'm thrilled to be joining Peloton at such a pivotal time in the development of its B2B strategy," said Hybl. "Our goal is to be a solution-oriented partner that provides customizable options for each client's unique needs, regardless of a company's size. By offering both holistic and individualized solutions, we can now widen our client base to include small and mid-sized organizations in addition to the larger enterprise businesses we currently serve. We couldn't be more excited about both continuing the momentum we are seeing with our existing enterprise customers and by now bringing the value of Peloton to customers and employees at all levels."

Peloton's B2B enterprise customers span different industries, vary in scale, and demonstrate a variety of values. Examples include:

Sequoia – NEW – Serving the Mid-Size Enterprise

• A leading benefits platform and advisory services company recently launched Peloton in its Wellbeing Bundles, an invite-only network of curated health and wellness vendors. Through this benefit, hundreds of Sequoia clients have the opportunity to offer Peloton's classes and unique corporate engagement experiences to their teams. As Peloton's first official broker partnership this marks a meaningful stride to better service the small and medium-sized business audience at scale.
• "At Sequoia we are always looking for new ways to support businesses in their mission to care for their people's well-being, and place real value on the role of technology to keep us connected," said Kaleana Quibell, VP of Wellbeing at Sequoia. "In our pursuit to provide our clients with the most innovative wellness benefits, Peloton for Business was a natural progression as it offers the opportunity to provide employees with access to world-class fitness and wellness content anywhere, anytime and enables team members to feel more connected to each other."

Hilton – An Industry-First Partnership in Hospitality

• In October 2022, Hilton and Peloton announced an industry-first partnership, making Hilton the first hospitality brand to feature Peloton Bikes across its entire US portfolio. This bold commitment of a Bike at every property reflects changing traveler preferences and passions—guests now expect brands they know and love to meet them where they are in their wellness journey. Subsequently, Hilton and Peloton expanded the partnership to Puerto Rico and three new international markets, bringing bikes to every hotel in Germany, the UK, and participating properties in Canada.
• "Hilton's successful industry-first partnership with Peloton has helped us deliver a meaningful wellness offering at scale to our guests," said Amanda Al-Masri, Vice President of Global Wellness, Hilton. "With 5,800 Peloton Bikes across the entire Hilton portfolio in the US, UK, Germany, and most properties in Canada, guests are now able to take their Peloton routines with them while traveling. We know that wellness is a top priority for travelers around the world and we have delighted so many guests with this partnership."

YMCA – Bringing the Magic of Peloton to Communities

• A leading nonprofit committed to strengthening individuals and communities across the country has teamed up with Peloton to advance community health and wellbeing. Building on an existing foundation of Peloton Bikes available at select YMCA locations across the country, Peloton is partnering with YMCA associations in San Antonio and Chicago to pilot an integrated hardware and App experience in dedicated Peloton spaces within their fitness facilities. The pilot program aims to increase accessibility to fitness through industry-leading content, experiential activations, and community events.
• "The opportunity to offer YMCA of Metropolitan Chicago members and communities access to world-class Peloton content is aligned with our mission to connect all people to their purpose, potential, and each other," said Dorri McWhorter, President and CEO, YMCA of Metropolitan Chicago. "Through this partnership we will bring additional health and wellbeing resources to tens of thousands of individuals across the communities we serve, in an effort to inspire them to be more active and lead their healthiest lives."

Volvo – Delivering Meaningful Benefits

• A leading luxury vehicle manufacturer partnered with Peloton to improve, reward, and support their employees' health goals both in and out of the office. Volvo Car USA employees can gain access to the Peloton App, Peloton All Access Membership, and discounts on hardware including the Bike, Bike+, Tread, and Guide. In addition to placing Peloton Bikes in their existing fitness centers, they have seen employees meaningfully engage with non-equipment based classes in a variety of locations.
• "As a Peloton user myself, I'm proud to say that we are able to offer many benefits to Volvo Car USA employees who also love Peloton but do not have a gym membership or a bike at home, starting with free access to the App, preferred pricing on equipment and on-site bikes at the office," said Allyse Scelfo, Director of Total Rewards of Volvo Car USA. "We also run multiple challenges throughout the year and link them to Alex's Lemonade Stand Million Mile Challenge, a charity close to Volvo's heart, to give back to the community by helping fight childhood cancer. This collaboration has been one of my favorites yet, and I look forward to seeing how Volvo and Peloton can continue to offer health and wellness benefits to our employees."

Dropbox - Fostering a Productive Remote Workforce

• A leading provider of productivity software, Dropbox partnered with Peloton in the peak of the pandemic to create a full-service wellness platform. To help their fully remote workforce, employees across the US can gain access to the Peloton App, Peloton All Access Membership, and discounts on hardware including the Bike, Bike+, Tread, and Guide.
• "As a virtual-first company, employee well-being and connection become even more critical at Dropbox," said Rich Caytano, VP of Total Rewards. "With a wide range of physical and mental wellness classes, the flexibility of live and on-demand sessions, and an incredibly supportive Peloton community of users and instructors, Peloton Corporate Wellness was exactly what we were looking for."

Peloton for Business is available in all five international markets including the U.S., Canada, UK, Germany and Australia, with solutions for Corporate Wellness clients initially launching in all markets except Germany. To learn more, visit business.one peloton.com.

About Peloton

Peloton (NASDAQ: PTON), provides Members with expert instruction, and world class content to create impactful and entertaining workout experiences for anyone, anywhere and at any stage in their fitness journey.  At home, outdoors, traveling, or at the gym, Peloton brings together immersive classes, cutting-edge technology and hardware, and the Peloton App with multiple tiers to personalize the Peloton experience [with or without equipment].  Founded in 2012 and headquartered in New York City, Peloton has nearly 7 Million Members across the US, UK, Canada, Germany, and Australia. For more information, visit www.onepeloton.com.

PRESS CONTACT:
Jaisa Dominguez
press@onepeloton.com

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SOURCE Peloton

FAQ

What is the new offering from Peloton?

The new offering from Peloton is called Peloton for Business, which is a B2B wellbeing solution for enterprise clients.

What does Peloton for Business include?

Peloton for Business includes a range of equipment and content-based solutions across seven verticals. It provides access to Peloton Bikes in commercial settings, preferred pricing on Peloton equipment, and exclusive programming through enterprise-level partnerships.

How many rides have been taken on Peloton Bikes in commercial settings in the past year?

In the past year, there have been over 7.5 million rides taken on Peloton Bikes in commercial settings globally.

What is the retention rate for enterprises offering the Peloton Corporate Wellness benefit?

The retention rate for enterprises offering the Peloton Corporate Wellness benefit is more than 93%, with clients renewing year over year.

Who has been appointed as the Senior Vice President and General Manager of Peloton for Business?

Greg Hybl, a leader with more than 20 years of experience in strategic partnerships and business development, has been appointed as the Senior Vice President and General Manager of Peloton for Business.