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Peloton announces $95 “used equipment activation fee” (arstechnica.com)

submitted 3 weeks ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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Peloton is introducing a $95 "used equipment activation fee" for bikes purchased from outside its official channels in the US and Canada, aiming to boost revenue and maintain onboarding quality for new subscribers.
The fee has sparked criticism as it reduces the cost savings typically associated with buying secondhand equipment and diverges from practices in other industries, potentially discouraging used market purchases.
Peloton's hardware sales continue to decline, but subscription revenue has seen slight growth; the company still faces financial struggles despite cost-cutting measures and layoffs.

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[–] twig@lemmy.dbzer0.com 65 points 3 weeks ago (1 children)

Yeah I mean I'm not surprised that this business is failing. It always just seemed like a worse and more expensive version of something that was always inherently pretty boring.

[–] abigscaryhobo@lemmy.world 12 points 3 weeks ago

I mean it was already overpriced for what it was, and it was only really good/popular during covid. A lot of people now will either go to the gym for classes or just get a bike without a $12-$49 monthly fee. I just can't wait to see how long until they lock the wheels without a subscription