Peloton on Tuesday (Nov. 9) announced its first connected strength product, an artificial intelligence-enabled device dubbed Peloton Guide, as the company faces plummeting market value in the face of slowing revenue and subscriber growth.
Peloton Guide connects to televisions to give members access to instructors and the Peloton content library. It also includes the Peloton Heart Rate Band and will retail for a starting price of $495 when it’s available early next year in the U.S. and Canada and in the U.K., Australia and Germany later in 2022.
“Over the last couple of years, we’ve seen the interest in our strength content explode,” said Tom Cortese, Peloton’s co-founder and chief product officer, in the company announcement. “Peloton Guide demystifies strength training to create a more engaging experience that will help members stay motivated.”
He added that this “is just the beginning for Peloton strength. Guide will keep getting smarter so it can grow stronger alongside our members.”
Peloton Guide includes machine learning-powered Movement Tracker on hundreds of strength classes; a self-mode smart camera technology that helps members compare their form to the instructor’s in real time; body activity to alert members on which muscle groups they recently worked; voice-activated mode to wake up the Guide then start, stop, rewind or fast-forward through a class; and member-control of the camera and microphone.
Related: Peloton’s Fall, Planet Fitness’ Rise Suggest Connected Fitness Boom Is Over
Last week, Peloton officials said their website traffic dropped more than expected in the past couple of months and their retail showroom saw a slower bounceback even with a relaunched treadmill and a $400 reduction in the price of its bike.
That led to Peloton lowering expectations for subscription growth and revenue for fiscal 2022 as the company debuted new products, including a corporate wellness program and private-label apparel, while continuing to fight back from its recall process when its treadmills led to deaths and injuries. In the past five days, Peloton’s stock has dropped by over 40%.
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