Beyonce, Peloton strike multiyear content partnership, sending exercise cycle-maker’s shares higher
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Peloton announced Tuesday a multiyear partnership with singer-songwriter Beyonce to produce exclusive content with her music for its streamed workout classes.
The exercise company did not disclose the financial terms of the deal.
“Beyonce and Peloton worked closely to create a series of themed workout experiences … across multiple fitness categories, including indoor cycling, running, strength, bootcamp, yoga and meditation,” Peloton said in a release.
Peloton shares gained 3% in premarket trading. As of Monday’s market close, the stock was up more than 252% this year, bringing its market cap to $29.1 billion.
In coming months, the company said Beyonce will continue to work with Peloton “on various forms of class curation.”
Beyonce is the most requested artist by Peloton’s global community of more than 3.6 million members, the company said.
“Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys,” Beyonce said in a statement. “I’ve been a Peloton member for several years.”