Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers
Publishing timestamp: 2024-04-15 14:57:23
Summary
Peloton has removed its unlimited free-membership tier for its fitness app less than a year after it debuted, as it was failing to convert users into paid subscribers. The company's market cap has shrunk significantly and its shares have fallen more than 45% this year.
Sentiment: NEGATIVE
Tickers: MS, PTON, NFLX, SPOT,
Keywords: netflix inc, peloton interactive inc, breaking news: business, retail industry, spotify technology sa, business news, morgan stanley, barry mccarthy, business,
Source: https://www.cnbc.com/2024/04/15/peloton-removes-free-app-membership.html