Peloton Offers $300 Discount For Bike/Bike+/Tread Units (Plus Other Thoughts)

March 2, 2022 by |Sports Technology News and Reviews|Comments (62)

Peloton-Bike-Plus-Review

Peloton’s just announced a $300 discount for their base Peloton Bike, Peloton Bike+, and Peloton Tread units. However, this one is actually kinda interesting in how they’re doing it – for two different reasons.

The first, is the fact that the base Peloton Bike is actually on sale. That’s a rarity. Normally, when Peloton does discounts on their base Peloton Bike (which is usually just around the holidays), they do it off of bundles. So basically, the real-world discount isn’t all that meaningful (virtually non-existent). This past Black Friday timeframe they did have real-world discounts on the Peloton Bike+ and Peloton Tread, which were quite meaningful (some $350 off the Bike+).

This puts the base Peloton Bike at $1,195, which is by far the lowest it’s ever been. That makes the Peloton Bike+ at $2,195, and the Peloton Tread at $2,195. All of these have a $250 setup/delivery fee as normal.

However, the second part of this discount is the most interesting part: You have to ask an existing Peloton user for the discount code. The company says each Peloton subscriber/member will get five discount codes to give out. These are apparently “in the mail”, and should show up in your inbox by this Saturday. I don’t know why it takes so long for this e-mail to be sent, but hey, that’s the way this rolls.

Your friend gives you said code, and then it’s good for $300 off. Apparently, if your friend is really creative, they can actually give you two codes. Both the $300-off code, as well as their normal Peloton referral code. If they do that, the giver will receive $100 in Peloton apparel credits. The receiver though will only get the $300-off (not the usual $100 off accessories – they are not combinable). But I don’t think anyone’s gonna complain about that. Or…maybe they will. Point being, your friend gets $300 off, and you get $100 for some clothes to sweat in.

If you have multiple members of a household, each member gets 5 codes. Further, the codes expire March 21st, 2022. The exact discounts also vary by region. For the US it’s $300, $350 (CA), £270 (UK), $450 (AU), and €250 (DE). There’s a giant FAQ here with more information.

(Short version of my reviews between these bikes. Both my wife and I use the base Peloton Bike at home, usually at night/weekends. Whereas we have the Peloton Bike+ at the office. I’m totally happy to use either, though the power accuracy of the Bike+ is spot-on, whereas the base Bike is roughly +/- 5-8%. Both of us like and use the Peloton Tread, which we have at the office. As I’ve noted before, I tend to rotate between Peloton/Zwift/TrainerRoad through each week, depending on what I feel like doing. I generally do power-zone/structured workouts on Peloton. It’s no different than any other power-based structured workout/platform, except there’s music to match the intervals. As always, do not buy a Peloton bike if you want to use it with other platforms natively, since at this point there’s no broadcasting/etc of power/cadence from Peloton to anything else.)

I suspect, this is probably just the first wave of attempts to slowly shift Peloton’s price model. Their CEO said as such just two weeks ago during some interviews, talking about shifting the price from being the heavy upfront cost (plus the $40/month subscription), to a model that’s more palatable upfront, with some change to the subscription cost longer term. We don’t know what that is of course, but we do know that the Peloton Bike cost of goods is substantially below its retail cost with solid margins.

DSC_8970

Peloton has also talked about how it might expand its platform in terms of other apps being able to run on the Peloton Bike. However, they haven’t discussed one rumored idea which is the inverse – putting the Peloton platform on other bikes (e.g. an iFit bike). While anything is possible, I don’t see them getting out of the hardware business anytime soon. As any actual real-world Peloton owner can attest to, the hardware *IS* core to their secret sauce. The instructors are critical, but it’s the fact that the hardware “just works” that keeps Peloton’s subscription renewal rates at the insane levels they are (99.2%/month)

Anyways, with a new CEO and new ideas on directions – it’ll be super interesting to see how things shape up over the next 8-12 months. As much media swirling as there ends up being on Peloton, the reality is that nobody is growing as fast as them. Their latest quarter (posted three weeks ago), had them gain 275,000 hardware (Bike/Tread) subscriptions (meaning, they sold hardware with those subs) – putting the total Peloton hardware subscribers at 2.77 million. However, that’s only a portion of the paying Peloton base, there’s another 862,000 paid app-only subscribers as well (for comparison, that smaller portion alone is likely in the same ballpark as Zwift).

StillShot

Of course, no matter how many users you have, if you’re spending too much money – it’s still not financially successful. In theory, Peloton’s recent financial changes (notably the firing of thousands of delivery employees to shift to a 3rd party vendor), will accomplish some of that. Given Peloton posted their 2nd highest revenue-quarter ever, they’ve at least got the income part largely figured out. Again, it’ll be interesting to see later this year how that ends up looking in reality. In the meantime, this post written a few weeks ago by a journalist was a good discussion of Peloton Media Drama.

In any case – I thought the approach to the discount was interesting, if not a bit unusual, and worth sharing. I suspect most people that are considering buying a Peloton Bike or Treadmill, know a friend or such that you can request the discount+referral codes from. In the event you still don’t, at some point I’ll get my codes once Peloton’s carrier pigeon e-mail arrives, and I can probably help out a few people. Just hit me up using the contact form.

With that – thanks for reading!

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62 Comments

  1. Benedikt
    March 2, 2022 at 11:33 am #1

    Easy why they will send the Codes not until Saturday, that way, people interested in their devices can read about the codes and ask existing users to give it to them. I think, if you are on the edge of buying one, 300$ off can trigger it. And people wich are already customers and knowing someone who’s ion the edge can tell them about the codes.

    If I would get another salesletter with some discount codes, I would normally just delete it. (SIS is such a company sending a lot of discounts)

    Reply
  2. Ron Gurney
    March 2, 2022 at 11:52 am #8

    These discounts are nice but Peloton’s biggest problem now is their horrendous delivery problem. Posts about this abound on the Peloton FB site. Discounts will not correct that situation but could worsen it if demand picks up…..

    Reply
    • Ray Maker
      March 2, 2022 at 11:57 am #9

      Yeah, it’ll be interesting to see if they can navigate the switchover (or switchback) to outsourcing delivery. To be fair, they’ve been pretty open about this in the last week or two, including the fact that it’s going to get slightly worse before it gets better.

      Reply
    • Paul E
      March 2, 2022 at 1:35 pm #10

      I just wish they’d let us take delivery of the boxes and set it up ourselves. Now for the Tread it may be a bit more work, but setting up the bike is stupid easy. I have taken it apart to replace wheel and crank bearings. This isn’t like building a Saturn V rocket.

      Reply
  3. James
    March 2, 2022 at 2:49 pm #11

    Same price as the one I bought in August for $1495 if you take into account they now charge a setup fee when it was free before.

    Reply
  4. Steven Vanosdall
    March 2, 2022 at 3:20 pm #12

    I think the death of Peloton in the media is drastically overrated. Yeah, they aren’t going to grow at a pandemic pace. But they’re still growing.

    It is possible, BTW, to use Peloton on a non-peloton product. I use the Peloton app on my Pro-Form 9000 (iFit) treadmill. It takes a little work – and iFit really has tried to make it harder than it used to be – but once done, it’s done. I do have a Peloton bike. (I did this because the Peloton Tread was in recall limbo when I pulled the trigger, but I’m happy with it. I do not get data like I would on a Peloton tread, but that’s ok. I end up with an ’empty’ Strava thing for the class, and then another with the data from iFit.)

    And yeah, if people want a code, I’m sure we can come up with more than just DC’s 5.

    Reply
    • raven
      March 2, 2022 at 8:20 pm #13

      While one can run the Peloton digital app with any bike, you cannot connect power sensors in any way. On iOS you can connect cadence sensors (but not on Android, which is bizarre). This makes Power Zone rides a bit more difficult as you need another app/source to view power to follow along.

      Additionally, leaderboards aren’t an option for digital app users, but that one makes a bit more sense and isn’t a real issue.

      Reply
  5. Chris B
    March 3, 2022 at 3:59 am #14

    Do you have anything on the new Peloton heart rate band?

    Reply
  6. Courtney
    March 3, 2022 at 11:10 am #16

    Commenting on this because I haven’t seen it elsewhere. I’ve been using my Peloton as a trainer until I get my butt in gear to set up my Wahoo Kickr. You CAN import your workout to Training Peaks using a stupid simple app called RunGap. Yesterday I had some cadence work on my training plan all in Z2. You do the workout, sync it to RunGap, then Share to Training Peaks.

    Note you do have to upgrade to premium (called Swag Bag) in RunGap but it’s pretty cheap: $10-20/ year (I can’t remember).

    Reply
  7. Yavor Bachvarov
    March 4, 2022 at 1:51 am #18

    I have been thinking of buying one for a long time already, have no friends unfortunately who use it. Anybody fancy sharing their code with me? Would be so appreciated! Thx

    Reply
  8. Courtney
    March 4, 2022 at 10:57 am #20

    I am happy to share a code … if I ever receive one! So far, nothing from Peloton in my inbox.

    Reply
  9. Harvey
    March 4, 2022 at 7:05 pm #21

    Would appreciate it if someone can share a code my way. Thanks.

    Reply
  10. Susan
    March 4, 2022 at 9:12 pm #24

    I’d love a code!

    Reply
  11. Meaghan
    March 5, 2022 at 5:23 pm #26

    I would love one of these elusive codes if anyone has one to share!

    Reply
  12. Sue
    March 6, 2022 at 5:15 pm #29

    Would love a code if you have one!

    Reply
  13. Jesenia
    March 6, 2022 at 11:42 pm #31

    Hi! I’m thinking of buying one tomorrow is the code still available?! Would love to score $300 off. Also how does the first responders discount work thanks!

    Reply
  14. Helena
    March 7, 2022 at 2:17 am #33

    Hi does anyone have a code I can use? :) Thank you!

    Reply
  15. Courtney
    March 7, 2022 at 2:54 am #34

    The code that I posted above is good for 5 users. So, grab it while you can.

    Reply
  16. Samantha
    March 7, 2022 at 10:31 am #36

    I’d love a code if anyone has one

    Reply
  17. Peter
    March 7, 2022 at 1:14 pm #37

    Would anyone be so kind to share a code with me?

    Ray, ik woon in België, ik zag dat het email adres verwijderd was van iemand dat het poste.
    Zou jij het kunnen delen?

    Reply
  18. Andrew Atkinson
    March 7, 2022 at 1:23 pm #39

    Just came here to say the Peloton Tread (non plus) is the first Treadmill I’ve ever purchased myself and I love it. After 60 days and after having been a more regular runner for 5 years, I’m achieving a weekly running goal over these past 2 months that I could not have found the time to do before, and the Scenic Runs are mostly how I’m doing that. The scenic runs simulate running outside well enough for me. I hope Peloton continues to release more and more scenic and guided runs that leave the pacing up to the runner, but provide beautiful video footage, good music, all the stats, and the “virtual companionship” of the instructor on the guided runs. E.g. Matt Wilpers on the Hawaii run, dropping facts about Hawaii set against the excellent multi camera footage including drone footage. It’s a great platform I hope to be using it for years. I would be sad if I had purchased PTON stock at a high point but I did not. As a user the platform is a really great connected fitness platform and the combination of hardware and software to really deliver a high quality experience is great. I had a good 45 minute run this morning, some coffee, and appreciate that DC Rainmaker is providing more Peloton coverage to help make this platform accessible to more folks.

    Reply
  19. Kimberly
    March 7, 2022 at 1:43 pm #40

    Is this still a valid promotion and is anyone willing to share a code?

    Reply
  20. Ray Maker
    March 7, 2022 at 2:47 pm #44

    Just a quick update that I’ve sent all the codes I have at the moment out, but folks are free to share additional codes down below.

    Cheers!

    Reply
  21. Jonathan
    March 9, 2022 at 7:06 pm #46

    Welcome to use my code “5O0NCQKM”. Posted 3/9/22 at 7PM EST.

    Reply
  22. David Campos
    March 11, 2022 at 10:21 am #48

    I’d love to get a code if anyone’s got one!

    Reply
  23. Samuel lei
    March 17, 2022 at 9:12 pm #50

    I too have been thinking of buying one for a long time already, have no friends unfortunately who use it.

    Anybody fancy sharing their code with me? Would be so appreciated! Thx

    Reply
  24. Seth
    March 19, 2022 at 7:37 am #52

    Only have a $100 code left but it’s better than nada!

    TTPPVZ

    Reply
  25. Nia
    March 21, 2022 at 12:08 pm #53

    Hello,

    Does anyone have an extra code, would truly appreciated.

    Thanks

    Reply
    • Steve
      March 21, 2022 at 12:44 pm #54

      My code GP1BVCHJ should have 2 more uses and should be good today, which I believe is the last day.

      Reply
    • Kelly Neil
      June 27, 2022 at 9:17 pm #55

      Hi here! I know I’m super late to the game but any chance you have a code left?

      thank you :)

      Reply
    • Steve
      June 27, 2022 at 10:28 pm #56

      Kelly, the $300 off codes are dead, but the normal $100 codes work. But that’s $100 of ‘stuff’. Shoes, mats, weights, etc. My code for that is P9PCNM

      Reply
  26. butterfly
    April 3, 2022 at 5:55 pm #57

    Hi, I would love a peloton referral code if there’s one available. Looking to workout at home more vs the gym/studios. Thanks!

    Reply
  27. Karie
    April 9, 2022 at 12:42 am #58

    I would love a code for a discount please! Thanks in advance!

    Reply
  28. AhmedMalik
    November 9, 2022 at 2:38 pm #59

    . You CAN import your workout to Training Peaks link to gas-stationsnearme.com
    using a stupid simple app called RunGap. Yesterday I had some cadence work on my training plan all in Z2. You do the workout, sync it to RunGap, then Share to Training Peaks.

    Reply
  29. okrunner
    May 24, 2024 at 12:48 pm #60

    With the other recent fitness industry problems, it’s no wonder that peloton is, again, in some fairly serious trouble.
    What’s your thoughts?

    link to cnn.com

    link to finance.yahoo.com
    Peloton’s Rise and Fall: From Pandemic Success to Record Low

    Reply
    • Ray Maker
      May 25, 2024 at 9:27 am #62

      I’d look to seperate the financial side, the media side, and the product side.

      Starting with the product side, they continue to grow, and they continue to have a strong base of followers that buy anything they do. Their solo app side, from a strategy perspective, continues to struggle. But I’d caution to separate out falling app numbers, with total revenue from the app. Remember they significantly increased the pricing during the last year, which may offset the losses in subs (looking at their financial reports, they don’t appear to breakout app-oly sub revenue, as hardware related stuff is a different line item). Either way, in total, ignoring solo app subs (non-Peloton hardware), Peloton yet again continue to grow total user base. Though, their FY2024 outlook is flat (who know if that’s just undersell and overperform or what).

      Next, we look at the media side. As always, the media absolutely froths at anything bad Peloton does. It’s such a bizarre thing. I can’t remember any other tech company, save perhaps Facebook, that sees this level of “Can’t wait until you do something we don’t like to burn you at the stake”. Thus, instead I look at the financial side and actual user side.

      Then, we’ve finally got the financial side and loans. Start with the investor side, as always, the price of a stock simply doesn’t matter. It doesn’t say anything about the company, it just tells you whether or not people are buying or selling the company. There’s countless examples both good and bad of stock prices going opposite direction of company health.

      Of course, then there’s the whole loans bit. Frankly, I don’t know what to make of that. Instead, I look at things from a product standpoint. Big name banks have given Peloton money to keep going. Consumers give Peloton plenty of money to keep going. And hopefully, with the recent layoffs, Peloton is getting closer to being right-sized (I agree with many, the company has *FAR* too many employees for its size). Either way, I’d have zero reservations about buying anything from Peloton. It’s not a company that’s going to randomly disappear, there’s far to many companies that would scoop it up if need be.

      Reply