The connected fitness market is quickly growing and ICON's streaming fitness service iFit recently raised $200 million to invest in technology, expand its content library, and reach more potential users.
"Where we are very distinctive in this exploding connected fitness marketplace is that iFit is interactive. iFit is interactive with equipment, with our trainers, with our workouts, and with our members," ICON Health and Fitness Vice President of Marketing Colleen Logan told Cheddar.
Logan says the iFit technology is so interactive that users will not have to "imagine" a workout destination — the streaming service will take you there. "We don't have you imagine you're climbing the mountain. What we do is actually take you to the mountain, so we take our crews and our mountaineers and we shoot the whole trek," Logan said.
The technology also allows users to feel the mountain. "Our technology actually controls the incline and decline of the treadmill so as you start out in the rainforest or as you make your way up the summit you're feeling the incline and decline as the exact topography," Logan said.
As the connected space continues to grow with competitors like Peleton, Logan says with new capital they now have the opportunity to take advantage of the connected fitness trend and offer a range of products.
"While a lot of people in the connected fitness space offer one product at one price point we have tremendous range because we don't think fitness should be a luxury," Logan said.
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
