#connected-fitness

#connected-fitness

Peloton Interactive ( NASDAQ:PTON ) surged during the pandemic as home fitness demand exploded, with revenue peaking at $4.1 billion in fiscal 2021. Since then, it has steadily declined, shedding market value and users. Sales have fallen amid economic pressures, while membership rolls have shrunk as consumers return to gyms or cut spending. Product updates, such as redesigned bikes and treads, have failed to capture broad interest in a price-sensitive market.

Putnam's path from that breakthrough Disrupt moment to today is a story of very smart timing. Mirror, the connected fitness device that brought boutique workout classes into homes, launched just as the pandemic created unprecedented demand for home fitness solutions. The timing proved so prescient that Lululemon acquired the company for $500 million just two years after its Disrupt debut. Now Putnam is betting on another cultural shift - the growing desire to disconnect from screens and reconnect with family and friends in person.