TikTok, Peloton partner to create new fitness hub
Peloton shares surge 15% after TikTok partnership announcement
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Peloton Interactive and TikTok announced Thursday they are partnering to create a new fitness hub on the social media platform.
The hub, named #TikTok Fitness Powered by Peloton, will feature Peloton content including video clips of workouts and celebrity collaborations, available for TikTok users in the U.S., U.K. and Canada via the hashtag #TikTokFitness.
TikTok and Peloton are teaming up for a co-branded fitness hub on the social media app. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
TikTok, owned by Chinese firm ByteDance, has 1 billion active users globally.
"We're thrilled that this partnership will bring inspirational fitness content and entertain Peloton users who come to TikTok to learn, connect with instructors, share fitness journeys, and find community," Sofia Hernandez, global head of business marketing at TikTok, said in a statement announcing the collaboration.
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Peloton investors appeared to be thrilled, too. The fitness company's shares surged more than 15% on the news.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PTON | PELOTON INTERACTIVE INC. | 8.38 | +0.36 | +4.55% |
Peloton has been trying to reverse the decline in demand for its equipment by expanding access to its content, and the TikTok deal is not the first it has made toward that aim.
Cari Gundee rides her Peloton exercise bike at her home on April 6, 2020, in San Anselmo, California. ((Photo by Ezra Shaw/Getty Images) / Getty Images)
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In September, the company announced a five-year partnership with Lululemon to supply all the apparel brand's digital fitness content.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LULU | LULULEMON ATHLETICA INC. | 315.30 | +2.16 | +0.69% |