Peloton shares soared today after the company announced a partnership with none other than Grammy Award-winning icon Beyonce. The partnership is an excellent example of how brands can engage with talent beyond just placing their logo next to them. On the partnership, Beyonce said, "Peloton and I both believe that the power of music can help uplift, motivate, and inspire those on their fitness journeys." I believe the partnership will accomplish just that.
According to Peloton, Beyonce is the most requested artist by Peloton users, which is estimated at nearly 4M. Bringing Beyonce to the platform means the brand is listening to its customers and helping deliver meaningful content. Meanwhile, Peloton has rapidly become a destination for premium, music-driven fitness content - a great place for Beyonce to be featured. This makes the relationship a ripe opportunity to bring two together for a meaningful relationship.
While Peloton has done an incredible job at bringing the best artists to their platform, there's no question that having Beyonce music will make classes even better. Meanwhile, Beyonce benefits from having a presence on Peloton, to ensure her content library stays relevant, fresh, and can reach audiences in new ways. Together, Peloton and Beyonce will produce content for the platform's fitness classes through a series of themed workout experiences across categories. New content aligned to Beyonce's music will help breathe new life into Beyonce's catalog.
Finally, one of the most compelling aspects of the partnership is the tie to HBCUs. Peloton and Beyonce are gifting two-year Peloton Digital memberships to students of 10 HBCUs as part of the partnership. Peloton will also work on building relationships with HBCUs to advance long-term recruiting partnerships for both internships and full-time roles.
Personally, I cannot wait to see this partnership launch this week and this makes me an even prouder Peloton member for their ability to create a partnership that not only satisfies customer feedback but also empowers others.
Sources:
https://www.cnbc.com/2020/11/10/beyonce-and-peloton-in-multiyear-content-deal.html
https://theglowup.theroot.com/homecoming-queen-beyonce-just-launched-a-new-way-to-get-1845630516
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