Confident In New Products' Price Point: Peloton CEO Peter Stern

Watch Confident In New Products' Price Point: Peloton CEO Peter Stern - Bloomberg on Dailymotion

Transcript

00:00We know that every dollar is precious and people are considering how to spend their money these

00:04days. And so we're very careful about what we do here. But we're also looking at the value that we

00:09deliver. And we know that if people are going to invest in something, they should be investing

00:14in their health, in their well-being, in their longevity and how they feel both physically and

00:21about themselves. And Peloton allows them to get a great return on that investment. So we did do a

00:27price increase. It was the first change in our all-access membership in over three years. We

00:31were very thoughtful about what that was. And we hope that our members appreciate all of the

00:36additional benefits that we've provided them over the last year. For example, adding about 12,000

00:41more classes, 40 more programs, more modalities, things like weighted vest workouts, as well as

00:47what we just announced today, which is the introduction of Peloton IQ, which provides

00:51basically the benefits of a personal trainer in your home.