Expensive memberships to its roughly 100 gyms across the United States served as Equinox’s primary revenue driver for its three-decade existence. Digital, meanwhile, wasn’t top of mind. That changed last year when the company started selling stationary bikes that streamed SoulCycle classes and launched a $39.99 per month app, called Equinox+, that is loaded with spin classes, meditation, strength training, boxing and even Tom Brady-backed recovery workouts.
The New York-based company is also trying differentiate itself with its “tribrid” model, which includes working out at home through its app, visiting its gyms and exercising outdoors. Equinox is experimenting with outdoor gyms it calls “In the Wild” and has opened 20 “SoulCycle Outside” studios.
Simon Belsham,…