Peloton plans to give existing members a discount on the new products it launches over the next few years, though the company has not said yet how large that discount will be.
The comment came on Peloton’s Q4 fiscal year 2026 earnings call, when an investor asked about the financial impact of the planned product launches over their first year or two.
CEO Peter Stern first noted that Peloton typically sees roughly a 50/50 split between new members and existing members buying in their current product categories, and that they expect that to hold this year. He then said the discounts are already factored into Peloton’s projections:
“What I will say is that, to the extent we offer those types of products to existing members, they will receive a substantial discount to reflect their loyalty and the value that they provide us from their already existing primary subscription. All of that is being built into our financial models, and we’ll have more to share about that as we get closer.”
On the same call, Stern said Peloton will launch new equipment in an existing category during this calendar year, with the first products in entirely new categories arriving in fall 2027.
Members who are already planning to buy should keep in mind that with the recent Cross Training launch last year, a similar loyalty discount did not end up being the best discount offered. Of course, past sales are no guarantee of how future sales will work.
When the Cross Training devices launched on October 1, 2025, Peloton emailed All-Access, App One, and App+ members a discount code good on up to three devices, with each ordered separately. Those codes expired October 29, and they took the following off:
- Cross Training Bike: $300 off, for a price of $1,395
- Cross Training Bike+: $700 off, for a price of $1,995
- Cross Training Tread: $500 off, for a price of $2,795
- Cross Training Tread+: $1,200 off, for a price of $5,495
- Cross Training Row+: $200 off, for a price of $3,295
Two weeks after those codes expired, Peloton’s Black Friday sale opened on November 12 with the exact same discounts on every device, available to anyone, plus a free month of All-Access Membership that the member codes did not include. Peloton then raised the Tread+ discount to $1,400 partway through that sale, an even better discount than had just been offered to existing members.
In the months since then, Peloton has gone on to offer deeper discounts on every Cross Training device during various sales. The best price each has hit so far:
- Cross Training Bike: $400 off, for a price of $1,295
- Cross Training Bike+: $900 off, for a price of $1,795
- Cross Training Tread: $600 off, for a price of $2,695
- Cross Training Tread+: $1,400 off, for a price of $5,295
- Cross Training Row+: $500 off, for a price of $2,995
Those came across the winter sale, the New Year’s sale, the Memorial Day (Summer Warm Up) sale, and this summer’s sales.
In other words, members who used their loyalty code on launch day paid more than shoppers who waited six weeks, and even more than those who waited a few months.
There was also no trade-in program with Cross Training devices. Peloton confirmed at launch that it was not bringing one back, instead pointing members toward selling through Peloton Repowered or paying to have old equipment hauled away.
However, as mentioned earlier – the way Peloton did discounting with previous sales & product launches does not mean it will work the same way with future product launches.
Peloton says it will share more as the launches get closer, and we will share those details as they become available.
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