Peloton is still busy expanding its connected fitness line despite its course financial problems. The company have mocked plans to introduce its first rowing machine, promising a mix of cardio and strength training. The company did not go into details during its Homecoming 2022 event, but a preview video (below) shows that it’s very much what you’d expect: a minimalist rower with a large screen for displaying classes and stats.
No release date or price for the rowing machine was mentioned. However, Peloton did preview features of existing products. Soon you will be able to schedule workouts with friends through the app, Bicycle either Fingerprint. Blind and low vision users will be able to navigate the Tread interface through the Google TalkBack screen reader. And finally you’ll have the option to track cycling, running, and other workouts through the Peloton app. You won’t have to participate in a class just for the exercise to count toward member challenges and streaks.
The expansion comes just days after Peloton disclosed a massive $751.1 million loss in its latest quarter, not to mention falling revenue. The company has been struggling to adjust to the pandemic recovery as people return to gyms and the office, and the combination of price cuts and the Guide camera hasn’t done much to change things. The rowing machine is a gamble in that regard, as Peloton clearly hopes that more aggressive investments now will pay off in the long run.
That said, it can be a shrewd move. The market for smart rowing machines is relatively small, with brands like Echelon and water leading the pack. Peloton could carve out a significant position in that market through name recognition and its popular classes.
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