On-premise fitness providers are taking calculated jabs at stationary in-home fitness.
OrangeTheory CEO David Long believes the issues for Peloton (PTON) once again shine a spotlight on the future of fitness.
“At-home fitness has been around for decades but it was in the limelight during the pandemic because that was the only option,” David Long said on Yahoo Finance Live “They just can’t replace the in-studio experience or the coaching, the accountability, the motivation and the feeling of accomplishment of going to an on-premise studio.”
Long said OrangeTheory reached $1.4 billion in sales during 2019, prior to the pandemic, and added 500,000 new members during 2021 in spite of challenges presented by the Delta and Omicron variants of COVID-19.
OrangeTheory is far from the only on-premise fitness company attempting to reconnect with former customers and acquire new members.
Planet Fitness CEO Chris Rondeau previously told Yahoo Finance Live about investments it has made in premium digital content to accompany their on-premise presences across 2,254 locations. Preliminary 2021 metrics for the gym chain showed the company amassed 15.2 million members, which represents an increase of 1.7 million members during the year.
The reopening of gyms following the availability of COVID-19 vaccines and additional on-premise precautions have been a hurdle for in-home fitness to sustain a pandemic-accelerated growth rate.
Meanwhile, Peloton reported preliminary quarterly results of 2.77 million connected fitness subscriptions, below the previous guidance of 2.8 million to 2.85 million. The full earnings report is forthcoming on Feb. 8, and is expected to reveal a key user metric — average workouts per connected device owner, which have declined for two consecutive quarters.
As on-premise fitness providers accelerate their re-engagement campaigns alongside new customer acquisition efforts, the poster-child of in-home fitness could be facing its most challenging ride since going public.
Bradley Smith is an anchor at Yahoo Finance. Follow him on Twitter @thebradsmith.
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube