STOCKHOLM, April 27, 2026, 22:03 (CEST)
- Spotify is pushing into fitness, rolling out a new category that features Peloton classes for its Premium subscribers. The move widens Spotify’s reach past just music, podcasts, and audiobooks.
- Spotify is launching this just ahead of its first-quarter earnings, scheduled for release before the U.S. market opens April 28.
- Spotify slipped after hours in the U.S.; Peloton, on the other hand, climbed following news of the partnership.
Spotify Technology S.A. rolled out guided fitness content Monday, dropping over 1,400 Peloton classes for Premium subscribers in supported regions. With this move, the streaming platform is probing just how much it can expand its subscription offering beyond pure audio.
The schedule here matters. Spotify is set to post its first-quarter numbers Tuesday, and investors are zeroed in on whether hikes in prices, growth in users, and fresh product offerings are enough to boost margins—without putting the brakes on subscriber growth. The earnings call kicks off at 8 a.m. Eastern Time.
Spotify shares in the U.S. slipped to $496.41 late Monday, a drop of $21.59 from where they finished previously. Peloton added 11 cents, ending up at $5.29. Investors favored Peloton with a more pronounced lift, but Spotify remained stuck in the red ahead of its upcoming earnings report.
Curated fitness playlists and wellness content are rolling out to both Free and Premium users. For Premium subscribers in eligible regions, Peloton classes—think outdoor runs, yoga, strength, cardio, even meditation—are part of the deal, no Peloton hardware required.
Spotify’s top podcast executive, Roman Wasenmüller, laid out the company’s ambitions: making Spotify “a true daily wellness companion.” The agenda? Get users to spend more of their day in the app. Spotify
Peloton called the agreement a distribution play, saying Spotify Premium users in most markets will soon be able to access its classes. That lineup? Strength, Pilates, barre, yoga, stretching, meditation, floor cardio, plus outdoor running and walking.
Dion Camp Sanders, chief commercial officer at Peloton, summed it up: “the best workout is the one you actually do.” He said the agreement expands Peloton’s global reach. The company, which is pushing to grow beyond hardware, now gets its instructors on Spotify—tapping into a much bigger audience. Peloton Interactive, Inc.
Spotify edges further into the fitness and wellness landscape, going up against Apple Fitness+, YouTube, and ClassPass for users’ daily screen time. The update tacks on yet another function to Spotify’s platform, which already features music, podcasts, audiobooks, and video.
Spotify starts the week counting 751 million users worldwide—290 million of those are paying subscribers—spanning 184 markets. According to the company, listeners have access to over 100 million tracks, 7 million different podcast titles, and half a million audiobooks, though the audiobooks are limited to certain markets.
Spotify’s most recent numbers explain Wall Street’s focus on margins. The company projected first-quarter operating income at 660 million euros and revenue at 4.5 billion euros, coming off a fourth quarter where revenue climbed 7% to 4.53 billion euros and gross margin hit 33.1%.
Near-term numbers may not see much of a lift from fitness content. Peloton’s catalog only covers select markets, most classes are in English—just a handful in Spanish and German. Tuesday’s results will likely hinge on fundamentals: subscriber counts, impact of price hikes on churn, ad revenue, and cost trends.
Spotify’s latest move offers investors a new product narrative ahead of earnings. Proving its impact on the bottom line? That’ll take more time.
