The fitness company is releasing remixes of three Elvis hits from DJ Dillon Francis, Outkast's Big Boi and electro-funk group Chromeo to be used exclusively across a variety of its classes. It marks the first time that artists created exclusive music for Peloton, which earlier this year settled a lawsuit with publishers who accused the cycling company of using unlicensed music.
Remixed tracks include the Elvis songs "Catchin' On Fast," "Do the Vega" and "Clean Up Your Own Backyard." Peloton users will hear the songs in an "Ultimate Remix" collection in its app and be used in yoga, strength, core and outdoor running classes.
Last month, Beyoncé signed a multi-year deal with Peloton to create a series of themed workout classes. It marked an important partnership for Peloton at a crucial point for its business: the platform's popularity and sales skyrocketed during the pandemic, but some investors and analysts are concerned that the rollout of a coronavirus vaccine could eventually persuade users to return to gym memberships and ditch their at-home workouts.
To lure even more customers, Peloton is once again extending its free trial period from a month to two months beginning Wednesday. Last spring, when the pandemic struck the United States, Peloton extended its free trial period to 90 days, sparking a surge in sign-ups. Peloton reported in its most recent earnings statement that the number of people paying for its app quadrupled to more than 500,000 members.
Peloton (PTON) had a blockbuster year. Its stock is up roughly 500%, 2020 saw record sales and the company unveiled a new line of fitness equipment. Still, its popularity has come at the expense of angering some customers complaining that delivery is taking too long. Last week, it bought another equipment company to help speed up production.
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