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Peloton is hoping to win back customers with a new pricing model that some users will find more affordable.
The exercise equipment and media company will instead charge a monthly fee that covers the cost of both the equipment and their on-demand fitness classes. If the customer cancels, Peloton takes the equipment back.
Fees will range from $60-$100 monthly. The new model will launch a test run soon in Texas, Florida, Minnesota, and Denver.
This option will reportedly only be available through Peloton’s brick-and-mortar stores, or its fitness studios, and not online.