The Prime Bike is Amazon’s first connected fitness product, priced at $ 499 – or about 1, 500 1,500 less than Peloton’s flagship bike. Amazon’s bike is similar to the Piloton, but it doesn’t have a screen to stream workouts.
Amazon didn’t make bikes – it partnered with fitness startup Achelon to build a less expensive version of its existing bike. Prices range from $ 1,000 to $ 2,000, depending on the features of the bike’s non-prime-branded models.
Prime Bike works with an app that streams fitness and cycling classes for a monthly fee. 30-day free trial prime bike buyers. (Prime Bike users will need an iPad or laptop nearby to use the app for its bicycle classes.)
Amazon also sells other equally expensive (or cheaper) stationery bikes. But it’s significant that he’s using Prime branding and is signaling that he wants to make his place in the home fitness category at the time of the boom. Amazon sells weights and other gear under its AmazonBasics line.
For Peloton, the epidemic has been profitable. It recently saw a 172% increase in sales and a 15% reduction in the price of its bikes and introduced a new version. The new treadmill is also on its way. Peloton (Petion) Shares fell as much as 4% after Amazon announced its new bike, but the stock has since improved.
Other workout companies have also risen during the epidemic. Tonel, a startup sometimes referred to as an in-house strength training pilot, recently raised 110 110 million in new funding and Apple (AAPL) Last week announced a subscription service called Fitness +, which is consistent with the metrics tracked by Paul & Watch.
In june, Lulemon (Lulu) Announced that it would purchase a startup mirror, which sells Nimit Mirror through which customers can participate in fitness classes and individual training sessions. The deal was valued at 500 500 million.
All of this is happening while the physical gym is struggling. Town Sports, the owner of a well-known gym, and Flyville Sports both filed for bankruptcy last week, blaming the epidemic. Both Gold Gym and 24 Hour Fitness went bankrupt earlier this year.
