Working out at home has grown by leaps and bounds since the pandemic. According to the media analytics company Comscore, in March 2020, consumption of on-demand fitness videos on streaming apps, subscription platforms, and cable increased 147% from the year prior. Last June, YouTube reported videos with “home workout” in the title saw a 515% growth in the last 4 months alone. Digital workouts are becoming the norm, and trips to gyms are quickly turning into a thing of the past.
Working out at home has gyms and workout and lifestyle companies scrambling to adapt to the quickly changing times. Companies like Nike, Orangetheory, and Apple are all focusing on the tools and techniques relative to working out at home, in an attempt to reach the biggest audience possible.
Fitness companies are seeking to give you the motivation and drive one looks for in a workout. Apple Fitness+ is launching a feature to do just that. They will give you recommendations based on the intensity of the last session. Peleton, the company that has benefited from the growth of in-home workouts, has surged during the pandemic. Many people are drawn to group workouts, which Peleton has a wide array of offerings for.
Companies specializing in gym equipment manufacturing got a big boost from the pandemic. ICON Fitness, the largest gym equipment manufacturer in the world, is no exception. They sustained a 600% year-over-year growth since May of 2019. The fitness industry in general is expected to grow in valuation by about $2 billion in the next five years.
Connected workouts, where equipment and a screen are part of the package, have become quite popular. Jon Canarick: managing partner at North Castle Partners, a VC group that invested in one of these brands, makes a good observation. “…home fitness equipment and home fitness content are not new. What has changed is bringing those two together and creating a better experience.”
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