Peloton to bring its content to TikTok in exclusive partnership
Reuters
Published Jan 04, 2024 09:15AM ET
(Reuters) - Fitness equipment maker Peloton Interactive (NASDAQ:PTON) will bring its workout content to short-form video platform TikTok in an exclusive partnership, the companies said on Thursday.
The partnership comes as Peloton, shares of which extended gains to jump 9.5% in premarket trading, is pivoting from hardware and transforming into a software-focused company, leaning on its exclusive content to drive subscriber growth.
Demand for the company's connected home fitness equipment has plummeted after a surge during the pandemic. That, along with expensive bike recalls, delayed a return to positive cash flow by fiscal 2023.
The New York-based company has been working to re-brand itself to make its services accessible by introducing new plans that will allow subscribers to workout with or without equipment.
Peloton will have a dedicated hub on TikTok, dubbed #TikTokFitness Powered by Peloton, that houses its content, marking the first time the fitness company partnered outside of its owned channels.
The content will include live Peloton classes, content from Peloton's instructors and celebrity collaborations, among others, curated on the Peloton hub, the companies said.
The company in November forecast revenue below estimates for the all-important holiday quarter and posted a bigger-than-expected quarterly loss.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.