Who doesn’t love an Apple Event that announces all of the new innovations coming to market from some of the brightest minds of this generation? Okay, yes, I drink the “Apple Juice” and I think Apple is pretty incredible. As the world is changing, Apple is able to adjust and give their consumers what they don’t even know what they need yet. With the explosion of Peloton, Apple found a way to not only complete but to serve up real competition in the fitness space.
Mobile technology is more important now more than ever as it is adding value to our everyday lives in this year of a world pandemic. The coronavirus could come and go as well as have a vaccine but this pandemic has caused the entire world to change the way we interact with each other. It has changed our expectations and dependency on technology, digital applications and bandwidth.
Fitness+ incorporates our fascination with wellness, mobility and influencers that keep us motivated. This new remote fitness service is Apple’s first venture into online workout videos in which directly competes with the success of Peloton (ABC News). Apple has originally curated trainers that people will cover popular fitness activities such as yoga, cycling and weight training. Peloton shares dipped slightly on the news and recently were up about 4%. With Apple incorporating their devices with online streaming, it makes it a direct competitor of Pelton’s business model (The Motley Fool).
On the day of the Apple Event, it was the CEO of Peloton, John Foley first time addressing the investment committee as a public company. Foley believes that while Apple’s product is impressive and “legitimizing” the at-home fitness space, he believes Peloton separates itself from Apple. Peloton has high-tech spin bikes and treadmills, which Apple isn’t planning to offer customers (CNBC). Foley sees Apple as a player in the same space but is not worrie\d about direct competition. It is important to hear Foley take this topic head-on with social media buzzing. As an executive member of a public company, transparency is key to a governance strategy within operations.
How do you think Fitness+ will impact the perspective of mobility? Do you thinkPeloton is in real trouble with Apple being a major player in this space?