Peloton drops unlimited free app membership as stock falls to new all-time low

Summary

The article discusses Peloton's decision to discontinue its free app membership, which failed to convert free users to paid subscribers. Barry McCarthy, a former executive at Spotify and Netflix, introduced the tier in hopes of expanding digital services but saw a decline in stock value after its removal. The free offering lacked long-term value, unlike platforms like Strava and Spotify, which impacted its effectiveness.