While we're on trends, we can't not talk about Peloton, the app that starred in the first This Week in Apps newsletter as it gained popularity during covid lockdowns.
For a quick trip down memory lane click here. The newsletter looked very different back then.
While Peloton's hardware business ran into trouble, its investment in digital fitness content is growing rather nicely.
Based on our estimates, it looks like Peloton's content will earn the most, ever, in 2022.
When Peloton first moved into digital content via subscription, I knew something great could happen. Pre-pandemic, it was Peloton's IRL setup that made the company so popular. Having that at home for a few bucks a month sounds like a no-brainer.
It indeed wasn't! Peloton's mobile apps earned $13.3M in net revenue in 2020, according to our estimates.
2021 was another good year for the bike maker, which semi-expanded into my favorite - rowers, and net revenue grew to $33.7M. 2022 isn't over yet, but in the first 11 months of the year Peloton's mobile net revenue is already sitting at $59.5M, as per our estimates. It'll break $60M easy by the end of December.
The growth is a combination of new subscribers, pricing tweaks (read increases), and a focus on retention, which is a double-edged sword for fitness apps that target the mainstream.
While mobile revenue is growing bike sales aren't, and considering the cost, I'm not at all surprised. I would even speculate that Peloton might split its fitness app and equipment sales in the future if bikes aren't the main driver for app downloads.
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