Having experienced a fall in demand for its exercise bikes and a change in leadership, the fitness brand has been going through a difficult period. Its new CEO Barry McCarthy, the former finance chief of Netflix and Spotify, has dismissed any reports that the home fitness group could be up for sale.
According to McCarthy, his growth strategy will focus on content for the company’s digital screens, not on its connected bikes or treadmills. He added that expanding the digital community and enhancing content could make Peloton “a very fast-growing business with very high margins”. However, the company may be close to launching a new rowing machine, its first new piece of equipment in four years, as that market could hit $1.8 billion by 2031.
Peloton appointed a new media partner in the UK and Germany following a competitive pitch last December. But the need for more specialist agencies or a new creative agency could be imminent. Last year, the business also hired a new product marketing manager for international markets and ALF can introduce you to other members of its marketing team and to decision-makers at its new media agency.