The Peloton Bike costs $1,695. The All-Access Membership to actually use it costs $49.99 a month, up from $44 as of October 2025. Do the math on five years and you're at $4,694.40 — for a bike you can't even ride without the subscription running. Peloton's own SEC filings show about 5.8% of subscribers cancel every single month, which works out to roughly half of them gone within a year. A weighted jump rope costs $49.99, once, and it works the day your card gets declined.
What a Peloton actually costs, year by year
The hardware isn't the whole story — it's barely half of it. Peloton raised its entire equipment line in October 2025: the Bike now lists at $1,695 (up from $1,445), the Bike+ at $2,695 (up from $2,495), the Tread at $3,295, and the Tread+ at $6,695. But none of that hardware does anything on its own. Every Peloton machine is a locked screen until you pay for All-Access Membership, which also went up in that same round of increases — from $44 a month to $49.99.
Run the basic Bike numbers out. Year one: $1,695 hardware plus $599.88 in membership, so $2,294.88 before you've owned it a full twelve months. Year five: $1,695 plus $2,999.40 in cumulative membership fees, landing at $4,694.40 for one bike. Stop paying the membership and the screen goes dark — you're left with a very expensive stationary object that does the same thing a $30 spin bike from a garage sale does with no monitor attached.
What Peloton's own numbers say about who's still riding
You don't have to take an outsider's word for how sticky that subscription actually is. Peloton's Q2 FY2026 earnings release, filed with the SEC, reports Average Net Monthly Paid Connected Fitness Subscription Churn at 5.8% — down from 6.2% the year before, which the company frames as a win. Compound a 5.8% monthly churn rate across twelve months and the math shakes out to roughly half of subscribers cancelling within a year. Ending paid subscriptions for the quarter came in at 2.661 million, a 7% year-over-year decline. This isn't a critic's estimate — it's the company's own disclosure to federal regulators, and it's the plainest evidence you'll find that a six-figure number of people are currently paying off hardware they've quietly stopped using.
Peloton's own SEC filings say roughly half its subscribers are gone within a year. The bike doesn't leave with them.
The part the treadmill-and-touchscreen industry doesn't put in the ad
None of this is really about Peloton specifically — it's about the entire category of fitness hardware that only works with an active subscription attached. A Bike, a Tread, a smart mirror, a connected rower: they're all sold as one-time purchases and quietly operate as recurring bills, and the moment you stop paying, the equipment becomes furniture. That's not a hidden fee buried in fine print — it's the entire business model, and it's why the company's own investor materials track "churn" as closely as they track sales. A treadmill or bike that requires a subscription to function isn't selling you a tool. It's selling you a lease with a really nice up-front price tag.
Compare that to a jump rope. There's no screen, no login, no monthly card charge standing between you and using it. You pay once — $49.99 for a weighted rope with a full training system included — and it works exactly the same way whether you use it every day for a decade or Peloton's entire touchscreen category disappears overnight. The training itself, not the subscription attached to it, is what actually gets you in shape. Nobody's cancelled their relationship with a jump rope because their card got declined.
Source: Peloton equipment and membership pricing per CBS News' coverage of Peloton's October 2025 price increases and Retail Dive's reporting on the All-Access Membership fee change. Subscriber churn and subscription-count data from Peloton's Q2 FY2026 earnings press release, filed with the U.S. Securities and Exchange Commission.
Peloton isn't the only connected-fitness brand running this playbook. Here's what five years of Tonal actually costs.
Rep Theory makes fitness tools built to work without a login, a subscription, or a monthly bill — starting with the Performance Rope. See the Performance Rope →