Reporting Q4 and year-end earnings, Planet Fitness is on the upswing.
By the Numbers
As of January, the HV/LP (high volume/low price) operator counted 15.6M members, topping pre-pandemic totals.
- Q4 revenue grew 37.3% compared to Q4 2020, while same-store sales jumped 12.3%.
- Total revenue from 2021 reached $587M, a 44.4% YoY increase.
- It opened 132 new locations this year, making 2,254 total.
Between the lines: CEO Chris Rondeau said the fastest-growing demographic for new memberships has been teens. The gym chain’s $10/mo. plans are proving to be an affordable option for Gen Z fitness-seekers.
Meanwhile… at-home fitness brands Peloton, iFIT, and Beachbody suffered steep losses in recent weeks.
Looking ahead: Optimistic about the brick-and-mortar gym business, Rondeau added:
“We believe there is long-term untapped opportunity for growth as the pandemic underscored the importance of overall fitness.”
Further reading. Fitt Insider Issue No. 169:
“After two years of on-again, off-again gym closures and a workout-from-home boom, the fitness industry is trying to find its footing… Now, it’s becoming increasingly clear that it’s not a singular choice between in-person or at-home workouts.”
