Issue No. 310: Members Only

Presented by

Jack Taylor opens an immersive event space in Venice Beach.

Gyms are getting their due.

Signing Up

The IRL fitness industry hit new marks.

Memberships grew 5.8% YoY, reaching an all-time high of 72.9M.
Boutique studio memberships ticked up 3.3% YoY and attendance 10%.
Bucking seasonal trends, foot traffic rose 6.6% in Q3.

With 23.7% of Americans enrolled and ~30% dropping in at least once, fitness sentiment is up.

No-show. A red flag, members are checking in less often, with average annual visits below pre-pandemic levels.

Worse, average dues rose 9% YoY, threatening to price out the 63% struggling to afford entry. Hardest hit, half of boutiques report churn of >30%.

New Age

Analyzing engagement, fresh sign-ups skew younger while older members are most loyal.

A common thread, half of all members say the gym is core to their identity and goals — which have changed.

Per FISA, strength equipment sales are up 181% over the last decade, while ellipticals and stationary bikes are down 43% and 58%, respectively.
Dumbbell use outpaced all other equipment, and ~22% of gym-goers hired a PT in ‘23.
Pilates studios accounted for 27% of boutiques opened last year.

Fueled by the pursuit of holistic health beyond fitness, operators are overhauling offerings to meet shifting demand.

HVLP wars. 40% of gym-goers belong to a budget gym, and the fight for territory is heated.

Planet Fitness and UK-born PureGym are battling to buy Blink assets out of bankruptcy. Meanwhile, PF hiked prices, entered Spain, and plans to open 150 stores this year.

With FTC mandating one-click cancellations, models built on no-show members will falter. Combating churn, EōS, Crunch, and 24 Hour Fitness upgraded facilities with strength equipment, recovery areas, and rec sports.

Due course. Mid-tier operator Fitness International acquired 35 XSport locations to boost LA Fitness.

Meanwhile, $100+/mo. memberships are the fastest-growing segment. Exercising wallets, Life Time added trainers, classes, and supplements while pushing pickleball and longevity clinics.

The highest end, Equinox launched a $40K/yr. health optimization program.

Studios. Boutiques see a 27% bump in active member growth for every location added.

Led by mindful movement and group training, expansions are underway. Xponential hit new countries, with Club Pilates/StretchLab driving growth. Pvolve has 50 locations in the works, L Catterton will take [solidcore] abroad, and STRONG Pilates is scaling up.

Piquing interest, 48% of studios plan to add new modalities. Joining the 39% offering sauna, F45 announced strength rack and contrast therapy plug-ins for franchisees.

N/A. Combining consumers’ top wants, social wellness clubs and multi-modality boutiques are ending the gym vs. studio debate.

Abroad, amenity-rich concepts like UK’s 1Rebel, Oz’s One Playground, and Canada’s Sweat & Tonic are gaining. Stateside, Fitness International’s Club Studio has 12 openings slated by ‘25.

High-Value, Low-Churn

A rebalancing, gyms and studios are finding larger gains—and making a bigger impact on health—by prioritizing engagement over sign-ups.

Punchline: Across all budgets, expectations are rising — and gyms selling fitness will be surpassed by brands curating a premium lifestyle.

🎙 On the Podcast

Neuro co-founder & CEO Kent Yoshimura discusses the company’s innovative nootropics.

Fueling high performance, Neuro makes functional gum and mints with ingredients clinically proven to sharpen focus, improve memory, and balance mood.

We also cover: Building the brand, scaling on TikTok Shop, and going from niche to mainstream.

Listen to today’s episode here.

📈 The wellness economy keeps climbing

The latest GWI report quantified global spending on personal well-being.

The wellness economy was valued at $6.3T in 2023, up 25% from 2019.
Personal care, nutrition/weight loss, and physical activity tiers topped $1T.
Valued higher than sports and pharma combined, wellness spending will reach $9B in 2028.

Top spot. Personal care & beauty leads all spending, with consumers seeking self-care through anti-aging, high-performing, and toxin-free products.

Well built. Wellness real estate is up ~200% since 2019, fueling health-focused developments from Canyon Ranch, The WELL, and Australia’s GURNER Group.

Brain game. Mental wellness aids—from supplements to mindfulness and sleeptech—will comprise a $414B industry by 2028 as startups leverage AI to improve global headspace.

Takeaway: The wellness economy is climbing, but higher spending should only be celebrated if outcomes improve in the same direction.

Presented by Jack Taylor PR

🏠 Come Hang At Jack’s House

Step inside. An experiential showroom and gathering place, Jack’s House embodies the agency’s ethos — bringing health and wellness leaders together to connect, create, and build community.

Kick back. Invite-only, Jack’s House will welcome the industry’s most innovative brands and influential voices to experience its outdoor patio, cold plunge, sauna, gym, podcast studio, and more.

Stay awhile. Building on the success of its NYC Wellness Showcases, JT’s permanent presence in California is a venue for year-round connection.

For more details on the space and ways to get involved, contact the team at jackshouse@jacktaylorpr.com.

💸 Vuori scores new funding

The activewear brand raised $825M in a secondary tender offer led by General Atlantic and Stripes, valuing the company at $5.5B.

Growth mode. Adding to a $400M investment in 2021, Vuori is doubling down on retail stores and global expansion – targeting 100 US and 50 international locations in the coming years.

New wave. Among a rising crop of upstarts, Vuori’s success speaks to its broad appeal.

Nailing the athleisure playbook, the brand is both premium and approachable — with transitional styles suitable for men, women, gym-goers, surfers, travelers, and even casual office workers.

Riding its coastal California vibe to consistent 250% YoY growth, it will battle Alo, Gymshark, and a host of promising labels to become the next lulu.

Looking ahead: With the sector expected to see +7% CAGR through 2028, activewear brands are still finding white space. As Vuori proves, those with a clear vision can still break through.

💉 Echelon adds weight loss prescription

The fitness equipment makers launched ActiveMD, a telehealth service prescribing GLP-1s and longevity-focused NAD+ injections.

Integrated. Evolving its portfolio, the Peloton rival entered strength training last year and acquired recovery tech brand ThriveX this summer. Bundling ActiveMD with on-demand workouts, Echelon is selling “complete health and total wellness.”

Frenemies. Once a foe, the fitness industry is embracing pharma as weight loss drugs take hold.

Equinox developed custom GLP-1 companion protocols and credentialed its PTs.
Weight loss platform Noom tapped FitOn for curated muscle-preserving workouts.
Xponential is scaling franchise clinic Lindora, while Life Time expands longevity concept MIORA.

Punchline. Pairing exercise with injections, fitness operators promise to improve the efficacy of weight loss meds — while cashing in on the GLP-1 gold rush.

📰 News & Notes

Cycling coaching platform FasCat syncs with Zwift.
Australia proposes social media ban for kids under 16.
Sweetgreen expands menu, tests seed oil-free french fries.
ADA report: Diabetes costs the US economy $412.9B per year.
WHOOP, Notre Dame partner to enhance athletic performance.
Supplements maker RYSE lands distribution on Bodybuilding.com.
23andMe lays off 40% of staff, shutters drug development division.
Kohler brings luxury KLAFS saunas to US. [Re-read: Kohler x KLAFS]
VC firm Bessemer, Exos launch wellness coaching for business leaders.
Startup Q&A: Emteq Labs CEO Steen Strand on emotion-sensing eyewear.
NBA, WNBA sign uniform, apparel, and content partnership extension with Nike.
Hiring? We connect health and wellness companies with exceptional talent from Fitt’s inner circle.

💰 Money Moves

US 🇺🇸 / Canada 🇨🇦

Activewear brand Vuori raised $825M in a round led by General Atlantic and Stripes.

Beverage company Molson Coors increased its stake in Dwayne Johnson’s better-for-you energy drink brand ZOA Energy.

VR therapeutics company XRHealth acquired VR-enabled rehabilitation platform NeuroReality.

HATco, a healthcare-focused holding company of General Catalyst, acquired Ohio healthcare network Summa Health for $485M.

Sports league scheduling platform Fastbreak.ai acquired youth athletics platform SEQL.

Europe 🇪🇺

Spanish gym operator VivaGym acquired 72 clubs from regional rival Altafit.

UK-based health product company Venture Life Group acquired Health & Her, maker of menopausal support supplements.

G Spot, a UK-based functional beverage brand, secured undisclosed funding from Heineken.

German mental health platform HelloBetter landed a €3M ($3.2M) research grant to accelerate AI personalization.

Germany’s Quantune Technologies, makers of noninvasive health monitoring devices, raised €13M ($13.8M) in a round led by Point72 Ventures and Vsquared Ventures.

Asia 🌏

Indian fitness gear maker Boldfit raised Rs 110 crore ($13M) in a round led by Bessemer Venture Partners.

Latin America 🌎

Chilean plant-based nutrition company Brota Superfoods raised $630K from Manutara Ventures.

Today’s newsletter was brought to you by Anthony Vennare, Joe Vennare, Ryan Deer, and Jasmina Breen.