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Equinox’s guarantee originally required it to buy back at least part of SoulCycle’s obligations if the spin studios’ debt relative to earnings exceeded certain thresholds. The new agreement releases Equinox Holdings from certain debt requirements, though another unit of the company still guarantees the obligations, said the people, who declined to provide further details of the arrangement.
Bloomberg last month reported that Equinox was seeking another amendment to the deadline. Representatives for Equinox and SoulCylce declined to comment. Reorg Research earlier reported details of the agreement.
In a note last June, S&P Global Ratings said another Related Cos. affiliate had agreed to contribute $125 million to help cover Equinox’s guarantee, but said the sum might not be enough.
Technavio Research: Global Gym and Health Clubs Market to Grow by $ 20.31 Billion During 2020-2024 | North America to Offer Several Growth Opportunities in New Normal | Technavio
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Technavio has announced its latest market research report titled Global Gym and Health Clubs Market 2020-2024 (Graphic: Business Wire)
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The rising number of fitness centers and health clubs is one of the major factors propelling market growth. However, factors such as the dearth of trained workforce will hamper the market growth.
Jan. 13, 2021 7:00 am ET Vivendi SE ’s Universal Music Group has licensed the world’s largest music catalog to Equinox Media LLC’s Variis digital fitness app, allowing users to work out at home to hits by Taylor Swift, Lady Gaga, Ariana Grande, Billie Eilish and the Weeknd.
The agreement comes as the music industry increasingly looks to new partners across social media, videogames and fitness for revenue beyond streaming. The pandemic has accelerated the growth of at-home fitness apps, which have relied on music as a draw to live-streamed and on-demand classes led by remote instructors who have become much like influencers and DJs in their own right.
Sports And Fitness Goods Market Rising Trends and New Technologies Research 2020 to 2025
Global Sports And Fitness Goods Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns& country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.