PELOTON ACQUIRES NEUROTIC MEDIA LLC TO ENHANCE ITS MEMBERS’ MUSIC EXPERIENCE
Fitness Technology Brand Enhances Music Offerings with Addition of Atlanta-based Music Technology Platform, Marking the Company’s First-Ever Acquisition
NEW YORK, June 27, 2018–Peloton, the technology company revolutionizing the fitness category, today announced its first-ever acquisition with the purchase of Neurotic Media LLC, an innovative Atlanta-based digital music aggregator, streaming and download source. Founded in 2001 by music industry veteran Shachar “Shac” Oren, the B2B music platform will enable Peloton to provide its Members with an enriched music experience. Oren will become a Vice President at Peloton, while retaining his role as CEO and President of Neurotic Media, whose team and offices remain in Atlanta and continue to operate as a standalone subsidiary serving third party clients. Oren will report to Paul DeGooyer, Peloton’s Head of Music.
This announcement marks a major milestone as Peloton further solidifies its industry leadership in fitness technology and media, delivering best-in-class content to a growing audience worldwide. Integrating Neurotic Media’s technology and innovations into Peloton’s platform will bring unprecedented functionality to Members, enhancing their experience.
“Our Members have embraced music as central to the Peloton experience and consistently rank it as one of the top aspects of the brand,” said DeGooyer. “The addition of Shac and his amazing team to the Peloton family will help us rapidly deploy new music features we know our Members want, along with some unique innovations we think they’ll love.”
“We’re proud to join Peloton’s world-class team, and excited to help bring the kind of Member experience breakthroughs the brand is known for to their already powerful music solution,” added Neurotic Media’s Oren. “Peloton’s platform, instructors and community present a rich environment for music ideation and innovation. We’re looking forward to amplifying Peloton’s technology to help Members achieve their fitness goals while discovering great music along the way.”
This acquisition comes on the heels of a number of notable announcements including: the launch of Peloton Digital, an expanded Peloton iOS app; the announcement of international expansion, beginning with the United Kingdom and Canada this Fall; May’s opening of the new Peloton Tread studio in NYC; as well as the announcement of a massive multi-studio space to open on Manhattan’s West Side in 2019.
About Neurotic Media
Neurotic Media is a leading white-label music service provider whose platform and services offer proven ways to drive consumer behavior and increase revenue. Neurotic Media is licensed by both major and independent record companies to take care of all back-office functions for its customers in a turn-key, Software as a Service (SaaS) solution. The company’s cloud-based media platform supports music applications on iOS and Android, hosted website management, and API services for online retailers, record companies, and various consumer brand marketers and agencies. Its customers include major record companies and their top artists, who have leaned on its technology for over a decade to fulfill their needs in digital campaign management. Neurotic Media supports its customers’ deployments with design and development consultation, merchandising services, and best-practices that help customers drive measurable results. For more information, visit www.neuroticmedia.com.
Founded in 2012, Peloton is reinventing fitness by bringing live and on-demand boutique-style studio classes to the convenience and comfort of your own home. Its immersive fitness content, taught by Peloton’s roster of elite instructors, features real-time motivation and curated playlists of Members’ favorite artists. The Peloton experience can be accessed through the Peloton Bike, the Peloton Tread, or Peloton Digital, an iOS app that offers an all-access pass to a full slate of fitness offerings, anytime, anywhere. Peloton is changing the way people get fit through a comprehensive and socially connected experience that makes every workout both efficient and addictive. The company has a growing number of retail showrooms across the US and, starting later this year, will launch in the UK and Canada. For more information, visit www.onepeloton.com.