Peloton (PTON 5.42%) is expanding access to its app, announcing it's now available on Apple's (AAPL 0.38%) Apple TV.
As of Tuesday, Peloton users can view workouts on their TVs when using Apple TV 4k and Apple TV HD. The app is free to try for thirty days and costs $12.99 per month thereafter. Users get access to thousands of on-demand classes.
IMAGE SOURCE: GETTY IMAGES.
The move is the latest of Peloton's efforts to capitalize on the red-hot growth it's been seeing during the COVID-19 lockdown. For its third-quarter ending March 31, the digitally connected bike and treadmill maker posted a 92% surge in subscription revenue. It ended the quarter with 886,100 subscribers, up 94% year-over-year. Paid subscribers surged 64% to 176,600. For its current fourth quarter, it forecast revenue of $500 million to $520 million high than expected, betting people will stay out of gyms once the pandemic is contained.
The Peloton app is already on Chromecast and Amazon's Fire TV. It's also available for the Apple Watch. Prior to launching support for Apple TV, users could access the app by sending content from an Apple device to the screen. The Apple TV app makes the process much easier and could eliminate any technical difficulties that arise from casting content.
