Growing subs 120k this year despite cutting media spend $292m YTD, about to ramp marketing and launch a tiered app, and an exec being opportunistic at an all-time low stock price
"Hi IE, What is meant with "incremental" below? Barry mentioned the same this week in the JPM conference. "Certainly, FaaS (the rental program) and PCR (Peloton Certified Refurbished) are helping growth. The two represented 24% of hardware sales last quarter and 62% of FaaS customers are incremental."
Hi Burak, Barry means 62% of those opting for the rental program would not have bought a Peloton the traditional way. These are mostly customers they would not have captured without FaaS. They are truly expanding their addressable market by attracting people who like the "no commitment" feature of the rental program.
"Hi IE, What is meant with "incremental" below? Barry mentioned the same this week in the JPM conference. "Certainly, FaaS (the rental program) and PCR (Peloton Certified Refurbished) are helping growth. The two represented 24% of hardware sales last quarter and 62% of FaaS customers are incremental."
Hi Burak, Barry means 62% of those opting for the rental program would not have bought a Peloton the traditional way. These are mostly customers they would not have captured without FaaS. They are truly expanding their addressable market by attracting people who like the "no commitment" feature of the rental program.