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Verizon s privacy problem
Privacy concerns are casting a big shadow over the ad world. It s top of mind for every advertiser with Apple now limiting access to user data. It s one of the big presenter buzzwords at this week s IAB NewFronts, digital media s big annual showcase.
The pandemic radically changed the way Americans workout, creating an at-home fitness boom that paved the way for meteoric growth within the virtual fitness market. With gyms and studios temporarily shuttered in 2020, individuals forged new routines from the safety and comfort of their own homes with the help of a rapidly growing assortment of connected equipment and digitally streaming classes.
According to the advisory firm Lincoln International, the global digital fitness market ballooned to $27.4 billion in 2020, up 32.6% from $6.7 billion in 2017. While this growth was led by major players like Peloton, Mirror, and Apple Fitness, it also included a number of emerging companies bringing new high-tech equipment to the scene and diversifying the market.
Orangetheory
Orangetheory Fitness launched a virtual fitness platform so users can livestream classes at home.
Today 90% of its studios are open, and 70% of members have returned for in-person classes.
Orangetheory classes are harder to replicate at home as they require multiple pieces of equipment.
Orangetheory Fitness is steadily rebuilding its business as the pandemic wages on, but it hasn t been easy.
For one, unlike other studio-based workouts, Orangetheory s bootcamp-style class requires multiple pieces of expensive equipment, making it more cumbersome for consumers to replicate at home. While fitness companies like Peloton or Row House call for a single piece of machinery and thus just one major investment Orangetheory workouts tend to involve a treadmill, indoor rowing machine, free weights, resistance bands, and a heart rate monitor.
Richard Drew/AP Photo
Planet Fitness has stayed afloat during the pandemic and avoided permanent closures.
CEO Chris Rondeau said this was partly because of its increased focus on digital, including a new subscription workout service. COVID fatigue is real. People are coming out and joining, and they re not canceling at elevated levels right now, Rondeau said.
Planet Fitness CEO Chris Rondeau believes the US is headed toward a post-pandemic fitness boom like we ve never seen, he said.
While competitors like Gold s Gym and 24 Hour Fitness went from temporarily closing locations to ultimately turning off the lights for good at some in 2020, Planet Fitness has managed to stay afloat without a single permanent closure across its 2,000 national gyms.