It’s easy to see why companies in the well-being space would want to try and replicate the Peloton business model — it’s been highly lucrative for the streaming fitness company. Whether other brands will see the same success is less clear.
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There’s a joke in Silicon Valley that mocks entrepreneurs trying to pitch their startups: “It’s like Uber for (fill in with any industry here).” But in the wellness space, it seems like Peloton's business model rivals that of Uber.
Take the new meditation app Journey LIVE. Like Peloton's live classes, which users can stream alongside fellow cyclists located in other cities and states, Journey LIVE users can meditate with fellow zen seekers across the country. The idea is to tap into the energy people receive by participating in a group activity.
Stephen Sokoler, Journey's founder and CEO, is betting that the live, group-based, subscription business model will lock people in. And its business model differs from its competitors Calm and Headspace, which offer users endless listening tracks. “There’s a paradox of choice, and having so many options makes it hard for people to stick with it and come back every single day,” said Sokoler.
So far, investors seem to like
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