PYMNTS.com February 1, 2024
As Peloton sees its revenue fall, the connected fitness company is looking to capture businesses’ corporate wellness spending to drive subscription growth.
The company reported in its second-quarter fiscal 2024 financial results, released Thursday (Feb. 1), that total revenue was down 6% year over year for the quarter, even as subscription revenue rose by 3%.
On a call with analysts, Liz Coddington, the firm’s chief financial officer, noted that the quarter saw the company’s subscription business face new challenges, with existing offers expiring. Now, Peloton is focusing on revitalizing the growth of this sector, and B2B can be a key way to do that.
“Our Peloton for Business offerings and our corporate wellness space — that’s a great opportunity for...
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