When gyms were forced to close because of the COVID-19 pandemic, Peloton became fitness enthusiasts’ saving grace and even helped some people begin their fitness journeys.
Peloton is a fitness equipment and media company that provides live and on-demand workout classes for any fitness level and workout style. These workouts can be done using body weight or workout equipment, including spin bikes, treadmills, and rowers.
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The company benefitted from this turbulent time by gaining multiple new subscribers, which helped it hit its peak, reaching a stock price of $160 in 2021.
Related: Peloton faces subscription challenges, stock price soars anyway
However, all good things come to an end, once gyms reopened, Peloton has struggled to keep up with the ever-evolving fitness industry.
A person exercising on a Peloton stationary bike.
Peloton reports mixed earnings results with multiple declines
On Thursday, Peloton (PTON) published its first-quarter earnings report for 2025, and the results were mixed.
The company reported earnings per share (EPS) of $0.00, beating analysts’ expectations by $0.15.
Peloton’s total revenues of $586 million reflect a 9% quarter-over-quarter decline, with subscription revenues down 1% and members down by 3%.
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After seeing the massive mix of results, Peloton devised a creative plan to turn around its declines and increase growth.
Peloton partners with the NFL to kick-start its multi-phase campaign
On Nov. 1, Peloton announced the launch of its new multi-phase campaign called ‘Find your push. Find your power.’ This creative campaign aims to create a more balanced marketing approach by creating demand among new audiences.
Peloton wants to motivate all types of subscribers by targeting specific audiences with fun and encouraging content that resonates with them and inspires them to continue their fitness journeys.
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This will be the company’s first project with their newly hired creative agency, Special London.
The campaign will have multiple stages so the brand can better focus on each specific audience group at a time. For its first stage in the North American market, Peloton will target the millennial man.
“Our brand research has shown that more than 70 percent of millennial males engage with running, but many in that same audience set are either not aware of our Tread and running offerings or are unsure if we’ll deliver a challenging enough fitness experience for them,” said Peloton Chief Marketing Officer Lauren Weinberg.
To further attract its first-stage target audience, Peloton has partnered with the NFL siblings J.J. Watt, a former professional football player, and T.J. Watt, a current linebacker for the Pittsburgh Steelers, to showcase a friendly rivalry based on the Peloton Leaderboard.
In these productions, the NFL siblings will be shown doing multiple workout styles while competing against each other, showing that the Peloton classes are challenging enough for all fitness levels.
“Enter T.J. and J.J Watt, Peloton Members who already compete against each other on the Peloton Leaderboard. Partnering with them is an organic way to counter these misperceptions by showcasing that we have challenging workout options that are hard enough, even for elite athletes,” said Weinberg.
J.J. Watt on the Peloton Bike+
This creative production will demonstrate how friendly competition can encourage people to find the motivation to push harder on their workouts.
Peloton already tackles this effort through its Leaderboard, which is implemented in every workout so members can keep track of their activity levels and compare them to other members.
According to Peloton’s statistics, two-thirds of its members are women, so this campaign will help the company target a minority audience and potentially expand its subscriber reach to less likely consumers.
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