Apple Fitness+ Faces Uncertain Future: Peloton Buyout or Free Tier?

Apple Fitness+ is in trouble. Bloomberg's Mark Gurman reports the service is bleeding subscribers, with high churn rates and revenue that isn't moving the needle for a company Apple's size.

Two scenarios are circulating right now. First, Apple buys Peloton. The hardware brand has been struggling for years, its stock down over 95% from its 2021 peak, making it an affordable acquisition for a company sitting on hundreds of billions in cash. Peloton's library, instructors, and connected bike ecosystem could give Fitness+ the content depth it currently lacks compared to rivals.

The second option is simpler: make Fitness+ free. For endurance athletes, this matters less than it sounds. Fitness+ has never been a serious training platform for runners, triathletes, or cyclists chasing performance. It lacks structured plans, no real VO2 max progression tracking, and the workout data integration with Apple Watch feels shallow next to what Garmin Connect or Polar Flow deliver.

What Apple does control is the Apple Watch, the top-selling smartwatch globally. Bundling Fitness+ for free with any Apple Watch purchase would drive hardware sales and pad activation numbers. It's the same logic that made Apple TV+ free for device buyers. For athletes already locked into Garmin, Coros, or Whoop ecosystems, this changes very little in practice.

Verdict: Fitness+ was never built for serious endurance athletes, and neither buyout scenario fixes that. Worth watching if you use Apple Watch as your primary device, but don't expect it to compete with TrainingPeaks or Garmin's Coach any time soon.