Peloton Partners with Beyonce in Multiyear Deal | Financial Buzz

Peloton Partners with Beyonce in Multiyear Deal

Peloton (NASDAQ: PTON) announced Tuesday that it has partnered with renown celebrity Beyonce in a multi year deal set to execute exclusive content with her music for its workout classes. The company has not yet revealed any financial conditions regarding the agreement.

 

“Beyonce and Peloton worked closely to create a series of themed workout experiences … across multiple fitness categories, including indoor cycling, running, strength, bootcamp, yoga and meditation,” Peloton said in a release.

Beyonce is one of the most requested artists by the company’s 3.6 million members and will be honoring homecoming season, traditionally a celebration for students at Historically Black Colleges and Universities (HBCUs). 

“Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys,” said Beyoncé. “I’ve been a Peloton member for several years, and I’m excited to partner with a company that helps people, young and old, be the best versions of themselves, in an innovative and adaptable way. I’m proud to celebrate the students at HBCUs with this donation, to encourage them to find and embrace their own wellness regimens.”

Peloton shares rose 3% in premarket trading and the stock has increased over 252% this year alone. The company said that throughout the coming months Beyonce will work with it “on various forms of class curation.”

The content will be available on the Peloton App, which is set to be free with a 30-day trial period.

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