Gen-Z, Millennial & B2B Opps: Peloton launches new campaign, significantly increases spend under new CMO (Score 85)
Sales Lead: Peloton recently launched a new NA creative initiative, "Yes I Can."
- The campaign highlights how Peloton not only motivates and empowers but raises their self-esteem.
- Made by Peloton's in-house creative team and creative agency Stink Studios, the campaign rolled out across broadcast, paid social, streaming platform, and online video platforms.
- The company will likely:
- Launch more work with Stink Studios
- Continue bolstering digital spend
- Implement roster shifts under its new CMO (more below)
- Target demographic:
- B2C: Gen-Z and millennials
- B2B: Business decision-makers in industries such as hospitality, corporate wellness, apartments, education, healthcare, gyms, and community wellness
Additional spending insights:
- Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- YTD spend: So far this year, Peloton has allocated roughly $49.5m toward national TV commercials, down 9% from the roughly $54.3m allocated within the same 2022 timeframe.
- Last year: The company allocated around $92.2m toward this channel in 2022 and more than double this, around $198.2m, in 2021.
- 2023 ad programming: Peloton's 2023 commercials have targeted Gen-X watching shows such as NBA Basketball, Law & Order: Special Victims Unit, On Patrol: Live, Gunsmoke, and Two and a Half Men.
- Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: The company has spent approximately $63.3m on digital ads YTD, more than triple the approximately $19.5m spent by this point last year.
- YTD data: Since the beginning of 2023, Peloton has earned about 7.1b digital impressions via YouTube (50%), Facebook (31%), Instagram (17%), desktop video (1%), and desktop display (1%) ads.
- Last year: In 2022, the company's estimated full-year spend decreased by 33% to $44m from that of $66.1m in 2021.
- Additional channel insights
- Peloton sponsors podcasts such as Stuff You Should Know, The Her with Colin Cowherd, The Dan Bongino Show, The Bobby Bones Show, and The Matt Walsh Show.
- The company also invests in short-form DRTV ads.
- Peloton has ridiculously widely dispersed network TV coverage and will likely launch a new campaign within the next 90 days or so.
- The company's top TV networks include POP, TDC, CMT, USA, and AMC.
Additional agency insights:
- Opportunity: Reach out sooner rather than later, if you haven't yet done so, to get on the radar of Leslie Berland, Peloton's CMO since January 2023.
- Current agency roster:
- In-House: Creative
- Stink Studios: Creative agency partner
- Mekanism: Creative and social AOR
- Horizon Media: Media and digital AOR
- John McNeil Studio: Creative agency partner
Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; podcast insights by Podchaser; DRTV insights by Media Analytics.