Peloton (PTON) - Get Report is teaming up with Grammy award-winning star Beyoncé in a multi-year partnership to produce a series of workout experiences, part of its longer-term strategy of marrying subscription-driven workout content with its machines.
Peloton said Tuesday that the workouts will commemorate homecoming season, an annual fall celebration for students at historically black colleges and universities. Beyoncé and Peloton will also gift two-year Peloton digital memberships to students at 10 HBCUs.
The move comes as Peloton continues its efforts to branch out to being a more immersive workout experience that takes it beyond just being a stationary piece of equipment. It also reinforces Peloton's efforts to build out its subscription services.
While most of this year's homecoming festivities shifted to virtual celebrations due to the pandemic, Beyoncé and Peloton worked closely to create a series of themed workout experiences to help extend homecoming to Peloton members via classes across multiple fitness categories, including indoor cycling, running, strength, bootcamp, yoga and meditation.
"Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys," said Beyoncé. "I'm proud to celebrate the students at HBCUs with this donation, to encourage them to find and embrace their own wellness regimens."
"It is a privilege to be able to work closely with her and her extraordinary team to broaden access to our platform and collaborate on incredible offerings we think our members will love," said Peloton's head of music, Gwen Bethel Riley.
The digital memberships will go to students at Bennett College, Clark Atlanta University, Grambling State University, Hampton University, Howard University, Morehouse College and Morehouse School of Medicine, Spelman College, Texas Southern University, and Wilberforce University, by the end of November.
Additionally, Peloton will build on its relationships with each of these schools to pursue long-term recruiting partnerships at both the internship and undergraduate levels.
The special content is accessible on the Peloton app, which can be accessed for free via a 30-day trial period, as well as through the Peloton Bike, Bike+ and Tread+.
Shares of Peloton were down 2.44% at $97.57 in trading on Tuesday.