Roku Carries a Peloton Channel - Both Shares Rise

A Peloton channel now is available on Roku, costing exercisers $12.99 a month. Exercise equipment isn't needed.
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Shares of Roku  (ROKU) - Get Report and Peloton  (PTON) - Get Report rose on Wednesday after the companies said an app from the fitness-product darling is now available on the streaming platform.

Peloton’s channel provides thousands of instructor-led, immersive workouts that people can do with or without equipment.

The Peloton channel uses Roku Pay and costs $12.99 per month after a free 30-day trial. Current Peloton users also can access the channel over Roku.

Peloton’s shares have more than doubled over the past three months, as the coronavirus pandemic closed gyms, leading people to exercise at home.

“As people continue to stay home, the television is increasingly becoming their window to the world, providing virtual access to the gym, travel, food, learning and more,” said Regina Breslin, Roku’s director of content acquisition, said in a statement.

“Consumer appetite for compelling content has never been stronger.”

At Peloton, “we’ve seen growing engagement with our TV apps, especially as more and more consumers look for at-home fitness solutions to keep them physically and mentally fit,” said Karina Kogan, general manager for Peloton Digital.

In other fitness news this week, Lululemon Athletica  (LULU) - Get Report said it’s acquiring Mirror, an in-home fitness company, for $500 million.

The sportswear maker said in a statement that the acquisition “will bolster the company’s digital sweat-life offerings.” Mirror offers weekly live classes and on-demand workouts as well as one-on-one personal training. 

Roku shares recently traded at $128.19, up 10%. They've climbed 46% over the past three months. Peloton stock recently traded at $60.32, up 4.4%.