When Equinox first launched its Variis fitness app earlier this year, it was only available to members or those who had a SoulCycle at home.
Then COVID shook up the industry and turned digital home workout products into an essential offering for fitness brands looking to stay viable during the pandemic.
"We spent the first six or seven months of the year really trying to perfect the experience with the Equinox members and with the Soul riders," Equinox Media CEO Jason LaRose told Cheddar. "That's a group that's very, very engaged in their fitness, so they gave us amazing feedback and we were able to continue to refine the product."
As demand for the service increased over the span of the pandemic, Equinox decided to make the app available to the general public. It also partnered with American Express to give account holders a $25 credit toward the $39.99 per month membership.
There is already plenty of competition in the space, however. Networked at-home fitness devices such as Mirror and Peloton have exploded in popularity during the pandemic.
As a result, Equinox, which also owns SoulCycle, has focused on expanding and diversifying the programming available on the app, with brands such as PURE Yoga, Rumble, and Precision Run.
"That lineup of brands provides us an opportunity to bring content that's really unparalleled," he said. "We run a TV studio and content production facility that tries to bring these brands to life at a way that's as premium as what you see when you visit them in real-life."
LaRose emphasized that Equinox doesn't see its digital offerings as a replacement for in-person classes. Instead, the goal is to keep members and non-members engaged with the brand and then, eventually, drive them back to the gym once they are able to fully reopen.
"We definitely see this as an 'and' proposition, digital and physical, not digital or physical," LaRose said. "Before the pandemic, 60 percent of Equinox members were already using at least one fitness app on their phones to augment or even to guide them through some of the in-club experiences."
He noted that 72 percent of Equinox members said digital at-home workouts have made them more likely to want to work out at a physical location when possible.
"That's always been the play of us, is digital and physical," he said. "We never anticipated that one of the reasons that you couldn't make it all the time to physical would be pandemic, so that's thrown a new reason to the top of the list obviously in a very odd 2020."
Super Bowl Champion, Julian Edelman, talks Chiefs' conspiracies, his fave TSwift song and his bet for Super Bowl LIX. Plus, the best time for a bathroom break.
Ron Hammond, Sr. Director of Government Relations at the Blockchain Association, breaks down Trump’s plan to strengthen U.S. leadership in financial technology.
BiggerPockets Money podcast is now available on Cheddar Wednesdays at 10am ET! Mindy Jensen shares how her podcast is helping people gain financial freedom.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."