Peloton is still busy expanding its connected fitness lineup despite its ongoing financial woes. The company has teased plans to introduce its first rowing machine, promising a mix of cardio and strength training. The company didn't go into detail during its Homecoming 2022 event, but a sneak peek video (below) shows that it's largely what you'd expect — a minimalist rower with a large screen to show classes and stats.
There was no mention of a release date or price for the rowing machine. Peloton previewed features for existing products, though. You can soon schedule workouts with friends through the app, Bike or Tread. Blind and low-vision users will get to navigate the Tread's interface through the Google TalkBack screen reader. And you'll finally have the option to track cycling, running and other workouts through the Peloton app. You won't have to participate in a class just to have exercise count toward member challenges and streaks.
The expansion comes just days after Peloton revealed a massive $751.1 million loss in its latest quarter, not to mention dropping revenue. The company has been struggling to adapt to the pandemic recovery as people return to gyms and the office, and the combination of price cuts and the Guide camera hasn't done much to turn things around. The rowing machine is a gamble in that regard, as Peloton is clearly hoping more aggressive investments now will pay off in the long term.
With that said, it may be a shrewd move. The smart rowing machine market is relatively small, with brands like Echelon and Hydrow leading the pack. Peloton might carve out a signification position in that market through name recognition and its well-known classes.