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Peloton hiking monthly fee for on-demand content

STORY: Fees are on the rise at Peloton.The interactive fitness company on Thursday announced it is raising the monthly fee for its on-demand fitness content in the United States and Canada…while cutting the prices of its Bike, Bike+ and Tread machines in all markets as it looks to attract more customers.The price of Peloton’s all-access subscription plan in the United States will go up to $44 per month, from $39, whereas in Canada the fee will rise to $55 per month from $49, the company said in a blog post.The move comes a day after shareholder Blackwells Capital criticized the company’s new chief executive officer, arguing he has not made enough changes and that the company should now be sold.The hike, which will go into effect June 1, comes after eight years without a price increase.Pricing for international members will remain unchanged.While Peloton became a darling during the health crisis, its stock price came under pressure as people returned to gyms, with shares falling about 80% from its 52 week high.Peloton shares jumped as much as 6% Thursday before reversing course.

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