Shauntil Cox lifts weights with the help of her trainer Deano Troost at Planet Fitness in New Caney, Texas on September 19, 2023.
Jason Fochtman | Houston Chronicle | Hearst Newspapers | Getty Images
More and more gym-goers want to build muscle, prompting major fitness companies to expand their efforts beyond cardio training.
In fact, according to Life Time's annual survey of 3,000 participants, building muscle was the No. 1 goal for 2024, ahead of weight loss and general exercise.
Well, both Peloton And Planet Fitness expand their investments in strength.
Planet Fitness has changed its equipment mix and Peloton began testing an app for strength training plans called Peloton Strength+ earlier this month.
When Planet Fitness found that its members consistently wanted more strength equipment and less cardio equipment over the past year, the company changed its fitness offerings to particularly meet the interests of Generation Z customers, who make up 25% of the company's base, according to the company's third-quarter 2023 earnings call.
“Generation Z clearly seems to prefer strength and functional training over cardio,” said Chief Financial Officer Thomas Fitzgerald. “Treadmills are still used about the same amount, but cross trainers and bikes are used far less frequently.”
Planet Fitness beat revenue expectations in the second quarter, and its focus on strength training helped the company reach that goal. Fitzgerald said that strength equipment costs less than cardio equipment and that strength training areas tend to have more space for additional members.
New York City-based personal trainer Miriam Fried, who specializes in strength training, has noticed a similar shift in women. She said many of her clients are women who previously took cardio or group fitness classes but now want to get stronger.
“I would say that in the last 10 years since I've been in the fitness industry, it's definitely become a little more common for women to do strength training,” Fried said.
A Peloton exercise bike is seen after the opening bell rings for the company's initial public offering on the Nasdaq MarketSite in New York City, New York, September 26, 2019.
Shannon Stapleton | Reuters
Peloton is also exploring whether strength training could be part of its path forward as the company faces growing concerns.
Peloton had previously said that demand for fitness equipment was sluggish as consumers held back from expensive items. The company has also said that its strength training content, not its cycling or running classes, is the most popular class type among digital members and No. 2 among those who own Peloton hardware.
The company's new app, Peloton Strength+, is designed for strength training in the gym rather than Peloton studios, according to the company, and will include personalized, trainer-led programs.
Peloton will likely comment on those efforts when it reports earnings on Thursday.
Peloton's new mobile strategy is similar to that of fitness app Ladder, which has been offering personalized strength training since 2020. CEO Greg Stewart said that while the company's mobile workout subscription service launched in the midst of the Covid-19 pandemic, it has seen its “most explosive” growth in recent years.
Because Ladder is a mobile product focused on strength training, Stewart says its users are primarily women and people who invest in gym memberships to access the equipment.
“70% of our app members are women. As strength training becomes more popular and in demand, we have certainly benefited from that,” said Stewart.
Stewart said 65% of Ladder users use the app weekly at the gym to use the equipment there. While the products focused on home fitness consumers during the pandemic, gym-goers are now an untapped potential in the industry, he said.
“Most companies in our space haven't really focused on this user, even though it's a huge audience, 65 million gym members in the U.S. … It's a large, significant audience that is motivated and excited and financially committed to their exercise program,” Stewart said.
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