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Courtesy Apple
Apple
Fitness+ finally has a release date. The app is pegged to compete with
Peloton Interactive’s
digital offerings.
Apple (ticker: AAPL) said Tuesday that the Fitness+ app would make its debut on Monday. The service promises studio-style workouts that integrate with the Apple Watch. It will offer categories like high intensity interval training, strength, yoga, dance, core, cycling, treadmill, rowing, and mindful cooldown.
“We’re excited for Apple Fitness+ to bring together the metrics from Apple Watch, great music, and a diverse and inspiring trainer team—in a uniquely simple, easy-to-access way across Apple devices—to encourage our users to get fit and stay healthy,” Jay Blahnik, Apple’s senior director of fitness technologies, said in a news release.
The app is $9.99 a month, or $79.99 for a full year, cheaper than a $12.99-a-month digital subscription to Peloton (PTON). Apple is also giving three months free with the purchase of a new Apple Watch Series 3 or later. Current Apple Watch owners will get one free month.
Apple announced the service in September, and investors immediately drew comparisons to Peloton and its digital fitness app. Peloton’s biggest draw, though, is its popular interactive bikes and treadmills that pair with a $39-a-month subscription. But analysts covering the stock saw the potential competition as validation for the interactive fitness trend that Peloton has become a leader in.
“While hard to ignore Apple, Peloton has a significant head start in fitness subs and content and its multiplatform approach is an advantage,” Raymond James analyst Aaron Kessler wrote in September.
One advantage to the Apple service is it can be bought via a bundle with several of its other services. The $29.95-a-month Apple One Premier plan includes Apple Music, Apple TV+, Apple Arcade, Apple News+, and two terabytes of iCloud storage. That’s a solid deal for dedicated Apple users.
Investors have largely shrugged off the immediate threat to Peloton. Though the stock has fallen from its mid-October closing high at around $136.43 amid promising vaccine news, the stock is still up 42% from the day before Apple’s Sept. 15 announcement.
Apple stock was flat around noon on Tuesday, while Peloton stock was down 0.2%, to $116.41. The
S&P 500
index was up 0.1%.
Write to Connor Smith at [email protected]
