Home Business Peloton reportedly preparing to enter the video game business

Peloton reportedly preparing to enter the video game business

3 min read

Jen Van Santvoord rides her Peloton exercise bike at her home on April 07, 2020 in San Anselmo, California.

Ezra Shaw | Getty Images

Peloton is reportedly preparing to enter the video game business.

The cycle maker is about to debut an in-app video game called Lanebreak, according to a report in The Verge. The game involves riders changing up their cadence and resistance levels to meet various goals, The Verge said. It will only be available to cycle owners and paying Peloton subscribers, according to the publication, citing details from the company.

A Peloton spokesperson did not immediately respond to CNBC’s request for comment. The company has yet to publicly announce anything about Lanebreak.

A move into gaming could be one way for Peloton to diversify its content for users, beyond livestreamed classes taught by famed instructors like Cody Rigsby and Alex Toussaint. The gamification of fitness offers another way to encourage users to return to take more classes, to win more challenges.

In the game — which is expected to open up to a members-only beta test later this year — players can choose a difficulty level and the type of music they want to hear, The Verge said. And there are different ways to win points and be rewarded, according to the report.

Peloton saw explosive growth in 2020, when many people were stuck at home due to the Covid pandemic and were searching for ways to break a sweat. To keep the momentum going, Peloton is expanding into international markets, including Australia. The company is also said to be venturing into the wearables market with a digital heart rate armband.

Peloton shares were up nearly 6% Monday afternoon despite a more than 2% drop in the S&P 500 index. The stock has fallen 23% year to date. Peloton has a market cap of $35 billion.

Read the full report from The Verge here.

Source link

Load More Related Articles
Load More By The Texas Chronicle
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Alphabet, Microsoft, Apple and more

The logo of Alphabet Inc’s Google outside the company’s office in Beijing, Chi…