In this article PLNT PTON Follow your favorite stocks CREATE FREE ACCOUNT Shauntil Cox lifts weights with the help of her trainer, Deano Troost, at a Planet Fitness in New Caney, Texas, on Sept. 19, 2023. Jason Fochtman | Houston Chronicle | Hearst Newspapers | Getty Images A growing share of gym users is looking to build muscle, leading major fitness companies to refocus their efforts beyond cardio workouts.
In fact, building muscle was the No. 1 goal for 2024, ahead of weight loss and general movement, according to Life Time 's annual survey of 3,000 respondents. Now, both Peloton and Planet Fitness are expanding their investments in strength.
Planet Fitness changed its mix of equipment and, earlier this month, Peloton launched testing for an app dedicated to strength workout plans called Peloton Strength+ . Finding that members over the past year consistently sought more strength and less cardio equipment, Planet Fitness shifted its fitness supply to meet interests, especially for its Gen Z patrons, who make up 25% of the company's base, according to the company's earnings conference call from the third quarter of 2023. "Gen Z clearly seems to prefer strength and functional workouts versus cardio," Chief Financial Officer Thomas Fitzgerald said.
"Treadmills still get about the same use, but things like elliptical and bikes are getting far less use." Planet Fitness beat revenue expectations in its second-quarter earnings, and an emphasis on strength workouts helped the comp.