At today’s event, Apple fired a warning shot at the booming home content industry with the announcement of Fitness +.
Effectively, this is a subscription service built for Apple devices. Users watch and follow training videos on their chosen Apple screen – so far, so standard. The extra juice comes from the synchronization of the training with the Apple Watch the training person is wearing.
This is a strong move from Apple – especially with cheaper SEs on the market – and the creators of training content are within their right to feel concerned.
More on that later though, let̵
The best way to think about it is a streaming service, but filled with, well, training videos. These include things like HIIT, cycling, rowing, strength, yoga and many more.
This will work as you expect: you have a range of difficulties, from beginner to advanced, and a recommendation system that starts when you start training.
When it comes to syncing with the Apple Watch, Fitness + shows your health statistics while you exercise. It looks pretty clear:
If you want more specific details about Fitness + yourself, you can go and read more about it here. Now I want to talk about what this means in a broader sense.
In my mind, this is a very smart move from Apple.
The pandemic has led to many more people training from home. Many have given up their training subscriptions and have cycled through training videos on YouTube. There are many who are looking for some structure with home training.
Prior to today’s announcement, the Peloton has been one of the main recipients of this.
The company is known for its cycling training at home, but has expanded to more regular training sessions with a $ 30 month subscription service. It goes without saying that Fitness + will eat into the user base, something the stock market recognized quite quickly:
The peloton stock price was definitely noticed when Apple Fitness + was announced 😅 pic.twitter.com/2aXE7yTJxA
– Marques Brownlee (@MKBHD) September 15, 2020
I really do not think it is all doom and gloom for the company. Far from it actually. First, the stock has already bounced back nicely:
The peloton dropped 5% on Apple’s Fitness + service news, but managed most of it within an hour and is still up 5% on the day https://t.co/liqTWMODct
– kif (@kifleswing) September 15, 2020
Secondly, this is the best thing that could have happened to the Peloton.
It goes without saying that Apple will quickly surpass Peloton’s size and user base. And yes, Apple is going to chew up a lot of Peloton’s market share. But by wading into the home fitness content market with Fitness +, Apple automatically shines a light on the companies that already run it.
And the Peloton will be the biggest recipient of this.
There will always be people who hate Apple because it’s Apple. They may like the company’s ideas, but they will be cursed if they give them money. So they look for alternatives. This is where the Peloton will shine.
The best way to think about it is this: with Fitness + Apple, the entire industry validates at home, streamed workouts. It has suddenly warned millions of people about its possibilities.
Yes, its entry into the market will hamper potential number of users Pelton could have, but it will undoubtedly increase amount of users the service takes up. In other words, Peloton will end up with a smaller market share, but more subscribers.
I’m really excited about this fight. Not only am I excited to see what’s going on with the market, I’m not looking forward to giving Fitness + a chance either. And that’s what we call win-win.
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Published September 15, 2020 – 19:03 UTC