Peloton, a home fitness company, and Verzuz, a hugely successful webcast series, announced on Monday that the two would be releasing a “Peloton Verzuz” music collaboration collection.
Last April, producers Kasseem “Swizz Beatz” Dean and Timothy “Timbaland” Mosley launched Verzuz on Instagram to cheer up those who were stranded at home due to the pandemic. Since then, millions of people have followed Verzuz on Instagram, encouraging major luxury brands and politicians to join the Livestream talk or make virtual appearances in front of the platform’s huge online audience.
It was only a matter of time before Verzuz got off with lucrative business opportunities. Dean and Mosley signed a similar Verzuz contract with TikTok’s Livestream competitor, the Triller Network, earlier this month.
Verzuz’s popularity paralleled Peloton’s during the pandemic when millions of Americans switched to digital alternatives when they could not attend gyms or live concerts.
Timbaland said in a promotional video, “When you look at Verzuz and Peloton, you’d be like, ‘Oh snap!’ It just sounds right.”
Swizz Beatz said, “I feel like the parallel lines with Verzuz and Peloton are the same.” He added, “You’re in the zone. Your energy is there. Everybody’s in the VIP, the same seats, at the show.”
The Peloton Verzuz series will not provide live artist events, but all Peloton fitness subscribers will have access to Verzuz music playlists. The series premieres Monday at 7 p.m. ET.
Soon, further Peloton Verzuz battles between Timbaland and Swizz Beatz and other rival artists will be revealed.
When more Americans get vaccinated, Peloton has every reason to keep its home fitness momentum going. The question is whether Americans will flock to conventional gyms or choose to exercise at home.
Peloton’s revenues rose by 172% during its fiscal fourth quarter, which ended in June. However, after Pfizer reported good news about its Covid-19 vaccine, its stock fell about 15% in November.
The stock began in 2021 with a loss of more than 25%, and it took another hit on March 18 when a child died in a Peloton treadmill-related accident. According to Bloomberg, the stock rebounded after federal regulators found that Peloton’s treadmills are no more risky than other fitness machines, and analysts expected that many Americans continue to exercise at home.
Peloton beat analysts’ earnings and revenue expectations in its second quarter. During the same time span, the company’s subscriptions increased by 134 % to an estimated 1.67 million.
Peloton’s musical partnership with Verzuz is not its first. Last year, the company reached a similar contract with Beyoncé to stream her music on its website. Peloton believes that featured music has been a key to its growth and expects its new deal with Verzuz to keep that trend going.
Gwen Riley, Peloton’s head of music, told CNN Business via email, “This is an ongoing relationship where, in the true spirit of Peloton and Verzuz, we’ll continue to surprise and delight our audience.”
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