Peloton, the unicorn rotate( and now treadmill) business that lets users work out via live-streamed class, be here today announces that it first acquisition. The company acquired Neurotic Media, a B2B music aggregation and streaming service.
Atlanta-based Neurotic Media was founded in 2001 by Shachar “Shac” Oren, who will become a VP at Peloton serving under Peloton’s Head of Music Paul DeGooyer. The entire Neurotic Media team and agencies will remain in Atlanta, persisting runnings as a standalone subsidiary providing third-party clients.
Neurotic Media is a white-label distribution and marketing platform, helping labels force and engage clients via popular music. Basically, the company connects a brand with any particular popular song or songs that align with their label mission.
The idea here is that music is integral to working out. Rendered Peloton’s places great importance on bringing a high-quality workout to the comfort of a user’s dwelling( or one of their studios ), music play-acts a big role. But one doesn’t often dabble in the music industry without either 1) experience or 2) loadings of money. While Peloton has slew of cash to go around, Neurotic brings practically two decades of experience to the Peloton portfolio.
Here’s what DeGooyer had to say in a prepared proclamation 😛 TAGEND
Our Members have embraced music as central to the Peloton experience and consistently rank it as one of the top various aspects of the label. The add-on of Shac and his amazing team to the Peloton family will help us rapidly deploy new music aspects we know our Members want, along with some unique innovations we think they’ll love.
Peloton has been stimulating moves as of late. The company launched the expansion and iOS app called Peloton Digital, and has announced plans to expand into the U.K. and Canada starting in the Fall. Plus, Peloton opened a brand-new Tread studio in NYC, with plans to open a massive multi-studio room on the West Side of Manhattan next year.
Peloton was founded in 2012 and has raised a total of $444.7 million. The words of the deal were not disclosed.