Video: Building The Netflix Of Home Fitness
PSFK conference speaker Tom Cortese talks about Peloton's meteoric rise in the fitness industry
As we look forward to CXI 2018 next Friday, we’re looking back at the insights shared by Tom Cortese at last year’s PSFK conference. The co-founder and COO of Peloton walked us through how the brand developed its cult following, and he had the stats to back it up: a whopping 96% retention rate and 3x year over year growth.
One secret to its success is that Peloton takes charge of every element of the experience. The company makes the bikes (and now, treadmills), delivers them, builds the software, hires its own fitness instructors and produces video content. As Tom told PSFK:
“What really sets us apart is that we live at the intersection of technology, fitness, and media. I often get asked the question, ‘Couldn’t SoulCycle build something like this?’ but to be honest, the ‘Couldn’t Netflix build something like this?’ is a scarier question, because when you ask an obsessed Peloton rider what they love so much about Peloton, they’re not going to talk about the software or the bike itself. They’re going to talk about their instructors and the actual class that motivates them to ride hide 45 minutes every single day. We see the real value of Peloton and the Peloton experience being our unique ability to bring these three pieces together.”
Watch Tom’s keynote and get your tickets for CXI 2018!