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Perhaps at some point you’ll be able to lease a Peloton bike, says CEO John Foley

After a blowout quarter, Peloton is considering ways to make its expensive, high-tech exercise equipment more affordable and accessible to a larger audience, according to its CEO.

One way to do that is by renting out its bikes and treadmills in the future, CEO John Foley told CNBC's "Squawk Box" Friday morning, shortly after Peloton's eye-catching earnings report.

In five or ten years from now, Foley said he would be "surprised" if Peloton didn't have an option to rent its equipment. "You won't see that in the next year … But I love moving in that direction," he said. "It's all in the name of affordability for our members and making sure they feel incredible about the value."

In theory, this initiative could allow more people to try Peloton's products for a few months before making a decision to buy. Peloton is currently offering a 30-day home trial. It has been shown that many of them are only once excited when people test their products. The average monthly net fitness churn for the fourth quarter of the fiscal year was 0.75%. And the company predicts churn will stay below 1% in fiscal 2021.

Earlier this week, Peloton announced the introduction of two new items: a cheaper treadmill and a more expensive bike option with a rotating screen. That also meant that the price of its original spinning wheel was lowered.

Peloton's new Bike + is priced at $ 2,495. The price of the original Peloton bike fell from $ 2,245 to $ 1,895. Peloton's more expensive and original treadmill, the Tread +, is priced at $ 4,295. The cheaper Tread, which is not yet on sale, will retail for $ 2,495.

Foley calls the two bike and two treadmill options Peloton's "better, best" strategy.

"We think that as we grow … globally, the prices of our products will play a role, so we are ahead of it," Foley told CNBC on Friday.

During a conference call with analysts after the profit, Foley also hinted that Peloton would one day sell used bikes. The company allows customers who currently own the original spinning bike to trade in that version for the new Bike +, meaning Peloton will have a supply of used bikes on hand.

With gyms being forced to close for some time across the country during the coronavirus pandemic, it seems that more than ever, people are turning to their peloton devices to work up a sweat at home. Even if the gyms reopen, many people hesitate to go back.

Peloton's affiliate fitness subscribers, who pay $ 39 per month for content on the Peloton app, exercise an average of 24.7 times per month, compared to 12 last year. This is partly due to the company launching more non-cycling workouts like yoga and stretching in its app. The rotating screen of the new Bike + is designed to allow users a more seamless transition between a peloton bike workout and a floor workout.

Peloton shares were down almost 4% on Friday afternoon. The stock is up more than 200% this year. Peloton has a market cap of $ 23.9 billion.

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