Struggling fitness equipment maker Peloton Interactive will bring its workout content to short-form video platform TikTok in an exclusive partnership, the companies announced Thursday.
The partnership comes as Peloton pivots away from hardware and transforms into a software-focused company that relies on exclusive content to drive subscriber growth.
Peloton stock rose 7% on the news.
Demand for the company's connected home fitness equipment has plummeted after surging during the pandemic. This resulted in an expensive bicycle recall and delayed the company from achieving a cash flow surplus until fiscal 2023.
The New York-based company is working to rebrand itself to make its services more accessible by introducing new plans that allow subscribers to train with or without equipment.
Peloton will launch a dedicated hub on TikTok called #TikTokFitness Powered by Peloton to house the content. This marks the first time the fitness company has partnered outside of its own channels.
Content will include Peloton live classes, content from Peloton instructors, celebrity collaborations and more, curated on Peloton Hub, the companies said.
The company posted a bigger-than-expected quarterly loss in November, expecting sales to be lower than expected in the all-important holiday quarter.
