Fintech PR
Global Virtual Fitness Market Size Expected to Reach $187 Billion By 2032
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Aug. 3, 2023 /PRNewswire/ — The virtual fitness market is a rapidly developing industry that provides fitness and wellness solutions through digital platforms. This includes various online workout classes, personalized coaching services, as well as virtual fitness communities. The market’s growth is being spurred on by several factors such as the rising adoption of digital technologies, greater health awareness among consumers, and an increasing need for personalized fitness solutions. Furthermore, innovative virtual fitness products and services are becoming more affordable due to advancements in wearable technology availability. In recent years, the virtual fitness market has experienced impressive growth and this trend is expected to continue into the anticipated future. As more people turn to online classes and virtual workout platforms for social engagement while staying physically fit. Furthermore, the convenience and flexibility of these options have made them appealing to busy professionals who lack time for traditional gym visits. Furthermore, technological developments such as high-speed internet accessibility, wearable fitness devices, and AI-powered virtual coaching are fueling the growth of the virtual fitness market. These innovations have made it easier for people to access tailored and engaging fitness experiences from the convenience of their own homes. According to Market.us the global virtual fitness market size was USD 13.3 Billion in 2022 and is projected to surpass around USD 187.8 Billion by 2032, and it is poised to reach a registered CAGR of 31.2% from 2023 to 2032. Active Companies from around the markets with current developments this week include: Interactive Strength Inc. d/b/a FORME (NASDAQ: TRNR), Xponential Fitness (NYSE: XPOF), YETI Holdings, Inc. (NYSE: YETI), Peloton (NASDAQ: PTON), Life Time (NYSE: LTH).
The report said that: “The virtual fitness market is expected to be led by North America, with a dominant market share of 48.2% in 2022. This region boasts the largest virtual fitness market globally, owing to its established fitness industry and the presence of major virtual fitness providers. North America is estimated to be dominant in the virtual fitness market, with the largest market share of 48.2% in 2022. North America has the largest virtual fitness market in the world because it is also known as the home to many prominent virtual fitness providers… and there is also a well-established fitness industry.”
Interactive Strength Inc. (NASDAQ: TRNR) BREAKING NEWS: Interactive Strength Inc. (d/b/a “FORME”) Announces Distribution Partnership with Industry Leading Integrated Fitness Services Company, The Risher Companies
- Company continues business-to-business commercial strategy to strengthen multi-year subscription opportunities
- FORME selected as a preferred equipment supplier for industry leading fitness center consulting and procurement firm
Interactive Strength Inc. d/b/a FORME (“TRNR” or “the Company”), maker of premium smart home gyms and provider of virtual personal training services, is continuing its expansion into the commercial market through a partnership with The Risher Companies (“TRC”), one of the largest fitness center consulting and equipment procurement firms servicing multi-family properties, real estate development and management companies, master-planned communities, and office buildings nationwide. TRC distributes over 20 commercial brands of fitness equipment and is a top 10 national distributor for Matrix, Woodway, Stages Cycling, Octane and FreeMotion Fitness.
“The Risher Companies is trusted by several of the top property developers in the country to manage fitness center design and buildout for new and existing projects across the US, including nearly 200 projects last year,” said Trent Ward, co-founder and CEO of FORME. “Partnering with the Risher team as a preferred equipment supplier allows FORME to bring its products and services to new properties and tenants around the country. We are pleased with the first installations that have been completed and are excited about the Risher project pipeline.”
“FORME’s equipment is best-in-class and we are very excited to offer it to our clients in support of our focus on curating differentiated and value-added on-property amenities,” said Josh Mann, Partner and Vice President of TRC. “FORME’s offering checks the three most important boxes for us – attractive and high-quality design, versatile functionality, and an engaging user experience, making it a great fit for many of our projects.”
The commercial channel represents many significant, multi-year opportunities for FORME, given the size of the addressable market, the consistency of the demand and favorable competitive dynamics. FORME already installs its smart home gyms in a number of commercial settings, including luxury hotels internationally, multi-family developments and office buildings.
“The commercial channel is one of the most impactful routes to market given the higher average recurring revenue, multi-year contracts, larger volumes and lower acquisition costs,” continues Trent Ward. “Given these dynamics, we believe having a strong commercial business is a key to a profitable hardware business.” CONTINUED… Read this and more news for TRNR at: https://ir.formelife.com/
In other industry developments and happenings in the market this week:
YETI Holdings, Inc. (NYSE: YETI) recently announced that it plans to report its second quarter fiscal year 2023 financial results on Thursday, August 10, 2023, before the market opens. YETI will host a conference call at 8:00 a.m. ET to discuss its financial results.
Investors and analysts who wish to participate in the call are invited to dial 833-816-1399 (international callers, please dial 412-317-0492) approximately 10 minutes prior to the start of the call. A live webcast of the conference call will also be available in the investor relations section of YETI’s website, www.investors.yeti.com.
A recorded replay of the call will be available shortly after the conclusion of the call and remain available until August 24, 2023. To access the telephone replay, dial 844-512-2921 (international callers, please dial 412-317-6671). The access code for the replay is 10180639. A replay of the webcast will also be available within two hours of the conclusion of the call and will remain available on the website for 90 days.
Peloton (NASDAQ: PTON) recently announced the start of the company’s next chapter as it repositions from the perception of an in-home bike company to reflect everything Peloton has to offer to everyone, at any level, wherever they are. With Peloton’s amazing content on its award-winning hardware and App, today’s relaunch ignites a vibrant new brand identity and campaign; introduces new Membership tiers; and releases a new content feature, Peloton Gym. With today’s relaunch, Peloton is declaring itself open and available for everyone to experience its expert Instructors and world-class content, even for free.
“With this brand relaunch we’re reflecting the vibrancy and fullness of everything Peloton has to offer to everyone. We’re shifting perceptions from in-home to everywhere, fitness enthusiasts to people at all levels, exclusivity to inclusivity across all Peloton Members present and future,” said Leslie Berland, Peloton’s Chief Marketing Officer. “Our Instructors and Members live and breathe the true Peloton experience every day. We’re excited to bring that energy and inspiration out into the world.”
Xponential Fitness, Inc. (NYSE: XPOF), the largest global franchisor of boutique fitness brands, recently announced it has signed a Master Franchise Agreement in France for its Club Pilates brand, representing Xponential’s 19th international country outside of North America. The agreement, signed with TCMP Fitness, LP and its partners Susan and Chris Fichaud, gives the Master Franchisee the opportunity to license a minimum of 75 Club Pilates studios in France over the next 10 years. The master franchise partners have eight years of experience bringing the Club Pilates brand to local markets and assembling highly-qualified teams, and also recently signed master franchise agreements to develop Club Pilates in Ireland and Switzerland. TCMP Fitness, LP is Xponential’s third domestic franchisee to expand its operations internationally.
Xponential Fitness’ Club Pilates studios offer low-impact, full-body Reformer Pilates-based workouts with a variety of classes that challenge your mind as well as your body. Club Pilates offers a supportive and inclusive environment for individuals looking to improve their fitness and well-being through the practice of Pilates.
Life Time (NYSE: LTH), the nation’s premier healthy lifestyle brand, recently announced the opening of Life Time Sienna in Missouri City, Texas. The opening marks the Company’s 30th athletic country club in Texas and 12th in the Houston market.
“We are thrilled to expand our Life Time presence in the Houston market and across Texas with the opening of Life Time Sienna,” said Parham Javaheri, Life Time Chief Property Development Officer. “Our continued growth comes as a result of people choosing to make Life Time a part of their daily lives for themselves and their families. We’re always looking for great locations and Missouri City is an ideal market for us to bring this new Life Time experience.”
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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– £2,228.26 per troy ounce representing a 41% rise within 12 months –
LONDON, Jan. 16, 2025 /PRNewswire/ — The price of gold has climbed to its highest level ever recorded in sterling terms, driven by a combination of global economic trends and UK-specific factors.
Over the past 12 months, gold has appreciated by £647.63 rising from a January 2024 low of £1,580.631 to today’s £2,228.262 per troy ounce. While the global economic landscape has played a pivotal role, domestic economic issues and political uncertainty have been instrumental in pushing gold to its all-time high against the pound. Solomon Global (https://solomon-global.com/), the specialist supplier of LBMA-approved gold and silver bars and coins, looks at some of the contributors to this latest high.
Internationally, the gold price has advanced due to economic uncertainties, ongoing geopolitical tensions, fears about economic slowdowns and sustained inflationary pressures (it is anticipated that global inflation will remain high until at least 2028, according to a recent survey by the German ifo Institute and Swiss Economic Policy Institute). Investors continue to turn to gold as a ‘safe-haven’ asset amidst these issues. Additionally, central banks worldwide increasing their gold reserves has further pushed up prices and underpins global demand.
In the UK, the all-time high for gold in GBP can be attributed to several key factors:
Sterling weakness:
The pound has faced headwinds due to persistent inflation, concerns over the UK’s economic outlook and Trump’s incoming tariffs. When sterling weakens against the US dollar, the relative purchasing power of GBP diminishes. Since gold is priced internationally in US dollars, a depreciating pound increases the cost of gold in GBP terms.
Inflation and interest rates:
A recent surprise fall in UK inflation has tempered immediate concerns but long-term inflation expectations remain elevated. Gold continues to be a popular choice for investors seeking to hedge against sustained price pressures. Conversely, softer inflation figures offer a path for the BoE to reduce interest rates. As a non-yielding asset, gold becomes more attractive when interest rates fall.
Economic uncertainty:
The UK economy continues to grapple with sluggish growth prospects. External challenges, such as potential shifts in global trade dynamics, and internal fiscal pressures following the autumn budget, have left investors wary about the future. Despite the slight decrease in inflation, structural issues persist. UK investors remain cautious and continue to be attracted toward gold to preserve wealth.
Strong retail demand:
Gold’s reputation as a ‘store of value’ has led to robust demand among UK retail investors, particularly as other traditional savings options offer limited returns amidst rising living costs.
“Gold’s record-breaking performance in GBP reflects local and global economic conditions,” said Paul Williams, managing director at Solomon Global. “Gold shone on the global stage throughout 2024, and the factors that led to its stellar performance don’t look to be abating in 2025. As the UK navigates economic challenges, many are turning to the asset as a stable and reliable investment. This trend underscores gold’s enduring appeal as a hedge against uncertainty and a means to safeguard wealth.”
For more information about Solomon Global’s products and services, visit the website at https://solomon-global.com.
NOTES TO EDITORS
About Solomon Global
Solomon Global specialises in supplying LBMA-approved gold and silver bars and coins that can be delivered directly to customers’ doors or stored in its highly recommended high-security storage vaults. The company takes a uniquely consultative approach to purchasing and selling physical gold and silver, regardless of the investment amount. Its simple and tailored strategy is designed to work with beginners and experienced investors alike.
Solomon Global’s team of experienced professionals is always available to provide practical solutions for clients – including products that are exempt from Capital Gains Tax – and assist with any inquiries.
For any questions about buying or selling gold and silver, contact the team here: https://solomon-global.com/contact/
For further press information, please contact: Francesca De Franco on 0794 125 3135 or email [email protected]
[i]
[1] Reached on January 24th, 2024 – source: https://www.royalmint.com/gold-price/
[2] Reached on January 16th, 2025 (1.28pm GMT) – source: https://www.royalmint.com/gold-price/
[i] Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Buying physical gold as an investment involves risk, as the value of precious metal prices can be volatile. Historical financial performance does not necessarily give a guide of future financial performance. We recommend that you conduct your own independent research and seek professional tax, legal and financial advice before making any investment decisions.
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Fintech PR
Bybit Pledges RMB 5 Million to Support Relief Efforts Following Devastating Tibet Earthquake
DUBAI, UAE, Jan. 16, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is deeply saddened by the devastating earthquake that struck Tibet earlier this week, leaving a trail of destruction and heartache.
The tragedy has claimed at least 126 lives, injured 188 people, and displaced tens of thousands as over 3,000 buildings collapsed in the remote region near the northern base of Mount Everest. In response, Bybit is committing RMB 5 million in collaboration with the Red Cross Society of China (RCSC) to support critical relief and recovery efforts in the affected communities.
The 7.1-magnitude earthquake, which struck on January 7, has caused widespread devastation, with extreme winter conditions complicating rescue operations. More than 14,000 rescue workers have been mobilized to search for survivors amid sub-zero temperatures and strong winds, highlighting the urgent need for immediate aid.
“As a responsible global leader in the blockchain industry, Bybit is committed to standing with communities in their time of need,” said Helen Liu, Chief Operating Officer at Bybit. “Our thoughts are with the survivors, the rescue teams, and the families affected by this tragic event. We hope our contribution will help provide much-needed relief and support the road to recovery.”
The donation will be directed towards essential services, including emergency shelter, medical supplies, and food aid, as well as long-term rehabilitation efforts. Bybit is proud to partner with RCSC to ensure swift and impactful assistance to those in need.
At Bybit, we firmly believe in the power of compassion and collaboration. This contribution reflects our commitment to fostering resilience and hope in the face of adversity.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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EDEN ISLAND, Seychelles, Jan. 16, 2025 /PRNewswire/ — Seekapa, a standout name in global trading companies, has unveiled a major enhancement to its offerings, now providing access to over 600 tradable assets. This expansion spans a wide array of asset classes, including stocks, cryptocurrencies, forex pairs, commodities, and indices, reinforcing its reputation as a one-stop destination for those seeking diversity and innovation.
Nick Zander, Seekapa spokesperson, highlighted the significance of this development: “Our mission is to empower members by offering them access to a diverse range of high-quality assets,” he said. “This latest expansion opens doors to greater opportunities, enabling users to diversify their portfolios and capitalize on new market trends effectively.”
A Good Way to Diversify Trading
The addition of these new assets is a direct reflection of Seekapa’s dedication to staying at the forefront of industry trends. Traders now have the opportunity to explore and invest in emerging sectors alongside traditional financial instruments. This expansion fosters greater diversification, allowing customers to capitalize on a variety of market conditions. The intuitive, user-friendly platform combined with powerful analytics tools offers a seamless experience for traders at all levels, ensuring they can make informed, strategic decisions regardless of market volatility.
Zander noted, “In an ever-changing financial landscape, staying ahead of the curve is essential. By expanding our offerings, we’re not just meeting the needs of our current users, we’re empowering them to stay competitive, well-informed, and adaptable to shifts in the market.”
Seekapa’s enhanced portfolio is part of a broader strategy to solidify its position as the go-to platform for global clients. The platform’s commitment to security, education, and user experience drives its ongoing efforts to redefine how traders engage with the market. As a result, the brand continues to set new industry benchmarks, providing unparalleled access and innovative solutions for users across the globe.
About Seekapa
Since its inception, Seekapa has emerged as a trailblazer in the trading industry, continuously pushing boundaries in the foreign exchange market. With a steadfast commitment to innovation, the firm has consistently developed and enhanced its products, services, and trading software to meet the evolving needs of traders worldwide.
By setting new benchmarks and redefining the trading experience, the broker remains dedicated to empowering its users with cutting-edge solutions and unmatched opportunities. As a leader in the industry, Seekapa continues to shape the future of trading through excellence and innovation.
Website: https://seekapa.com
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