- High tech, at-home fitness companies are gaining ground and putting traditional players under pressure.
- Peloton, which is widely considered to be a pioneer of the home fitness industry, was valued at $4 billion in August after raising an additional $550 million in venture funding.
- These are some of the most exciting at-home fitness innovations to come out over the past year.
America is exercising more than ever, but people are becoming lazier when it comes to where they do it.
Home fitness has become one of the biggest trends of 2018, as a series of high-tech fitness companies have swooped in to create more advanced ways to replicate a boutique class-style workout from home.
According to insights firm Alpha, the home fitness equipment market is currently worth $14 billion and is gaining more traction among traditional gym-goers. Of the people it surveyed, 54% said they would be interested in buying an at-home fitness system, Fast Company reported earlier this year.
By comparison, the International Health, Racquet & Sportsclub Association (IHRSA) estimated that 60.9 million Americans have a gym membership, which generates $30 billion in revenue annually.
Peloton, which is widely considered to be a pioneer of the industry, was valued at $4 billion in August after raising a further $550 million in venture funding.
Recent data released by analytics firm Second Measure, which tracks the credit and debit purchases from a pool of four million US customers, showed that Peloton is increasingly stealing market share from the traditional market leaders. According to the report, during the third quarter of 2018 Peloton overtook SoulCycle for the first time ever, drawing in 4% more customers, though SoulCycle strongly denied this analysis in a statement to Business Insider this week.
These are some of the most exciting at-home fitness innovations to come out over the past year:
Peloton is best known for its wildly successful exercise bike, which paved the way for other high-tech at-home fitness options.
Its new product — the $3,995 treadmill — launched this fall and works in a similar way to its indoor bike. It has an HD touchscreen that streams thousands of live and on-demand classes, which users can join from home.
Classes cost $39 a month and include high-intensity boot-camp routines, running drills, and mat work.
When Business Insider trialed the treadmill in February, we were impressed by the style and range of classes but were overwhelmed by the size of the machine.
New York-based startup Mirror launched its $1,500 interactive mirror in September.
The machine looks just like a standard mirror but has an LCD screen that streams live and on-demand workout classes into your home. These classes cost $39 per month.
Customers connect to the Mirror using a Bluetooth heart rate monitor or an Apple Watch.
Flywheel — FLY Anywhere
Boutique indoor cycling studio Flywheel made the move into home fitness in November 2017 with the launch of its FLY Anywhere bike.
The bike starts at $1,699 and functions in a similar way to Peloton’s version: it allows users to stream on-demand and live classes from their home. The main difference is that customers have the option to stream classes from their own device or pay extra to have a screen included on the bike itself.
In September, Peloton filed a lawsuit against Flywheel accusing the bike of being a copycat version of its proprietary bike.
In March, ClassPass launched ClassPass Live, a new membership program that allows customers to stream live and on-demand classes from their TV at home.
The live sessions range from high-intensity, kickboxing, and boxing classes to strength and barre classes.
A monthly membership costs $19 for standalone members. The starter kit, which includes a heart rate monitor and Chromecast to stream on your TV, costs $79.
New York boutique fitness studio Cityrow launched its home rowing machine in November. The machine is paired with an app that streams on-demand classes with Cityrow instructors, which are updated weekly.
The rower itself costs $1,395, and a subscription to the app is $19 per month or $180 annually.
While you won’t be able to get your hands on the Hydrow rowing machine until spring 2019, it is currently available for preorder.
The machine is the brainchild of former US national rowing coach Bruce Smith, and some of its classes are taught by members of the US national rowing team.
Hydrow puts a different spin on the rowing experience by offering classes that are broadcasted live from the rivers of New York and Miami.
It costs $2,399 — though it’s currently on sale for $1,999 for the holidays — and includes three month’s worth of membership fees, which cost $38 a month.