Apple today unveiled its latest foray into the subscription business with a new fitness service that will begin offering studio-style workouts later this year. You might think it would worry Peloton, whose business has lately been thriving, particularly as the new service, Fitness+, will be included in a new discounted bundle of Apple services. But Peloton shareholders shouldn’t sell their shares anytime soon.
Most of Apple’s other entertainment-style subscription services unveiled so far have been—not to put too fine a point on it—flops. Apple TV+ had one hit—The Morning Show—and has generated little buzz otherwise. Apple News+, ditto. Arcade, the gaming service, also a disappointment. Its only entertainment subscription service that has had any success is Apple Music. Even so, its main rival, Spotify, is still growing, although whether it would be growing faster without Apple Music is another question.
