TECH - From Fitness Gear To Social Media Peloton Partners With TikTok In A New Venture | Benzinga
Peloton Interactive Inc. (NASDAQ:PTON) is teaming up with social media platform TikTok in a strategic alliance to expand its customer reach and reshape its brand identity.
What Happened: CNBC reported that Peloton disclosed its collaboration with TikTok on Thursday to reshape its public persona and appeal to a broader customer base amid declining sales and profits.
The partnership will launch a new fitness hub on TikTok named “#TikTokFitness Powered by Peloton,” featuring succinct fitness videos, live classes, Peloton instructor content, and collaborations with TikTok creators.
This alliance comes six months after Peloton’s rebranding as a universal fitness company, which included a tiered pricing strategy for its app. It targets customers who may not be able to afford Peloton’s premium connected fitness equipment but could be interested in its app’s monthly subscription.
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Oli Snoddy, Peloton’s vice president of consumer marketing, explained that the partnership aims ...