Carl Daikeler Leads Beachbody Into New Territory with Subscription Service
For more than 20 years, Beachbody has been providing its customers with home-based workout products, including VHS and later DVD programs. In an effort to adapt to the latest technology and to the evolving needs of its customers, Beachbody has been repositioned to being a subscription-based service. Specifically, its members have unlimited access to more than 1,500 workouts for an affordable monthly fee. Currently, the growing membership base tallies in the millions. Adult workouts for a range of fitness levels and children’s workouts programs are available.
CEO Carl Daikeler saw that the company’s customer base had evolving needs during the pandemic. There was an increased motivation to maintain or to improve personal fitness. At the same time, gyms were closed because of the shutdowns, and people were spending much more time at home. This presented the perfect opportunity for the company to expand its reach to more customers and to increase and stabilize income through a subscription-based streaming service.
Beachbody is known for its popular P90X fitness workout, and it also offers customers a nutritional shake through Shakeology. Shakeology is specifically and scientifically designed to promote satiety as well as nutrition. Each delicious shake can fill nutritional gaps and may increase wellness and energy levels as a result. Because the shakes are filling, they may also reduce calorie consumption when they are enjoyed approximately 30 minutes before a meal. As people continue to look for affordable, convenient solutions for improved wellness, the popularity of Beachbody’s products and services will extend far beyond the pandemic time period.
The vision of Carl Daikeler has been wildly successful, and it has captured the eye of investors. Collectively, Tom Skaggs and Kevin Mayer have invested approximately $300 million into the company through a merger. These former Disney executives have heralded a merger with Myx Fitness and Forest Road Acquisitions. As a result of this merger, the company will be positioned to go public later in 2021 and will be worth $2.9 billion.