The singer will develop music content for a fitness startup.
New York-based fitness content startup Peloton has announced a multi-year deal with Beyoncé that will see the singer create "various forms of exercise." According to the company, Beyonce leads the ranking of the most popular artists in the global Peloton community, which now has more than 3.6 million active users.
“We believe the power of music can help uplift, motivate and inspire those in the fitness world,” Beyoncé commented, confirming her Peloton deal.
The company did not disclose the financial terms of the deal, noting that it has previously collaborated with the singer on content for themed workouts across several fitness categories, including cycling, running, strength training, yoga and meditation.
“I have been a member of Peloton for several years now and I am thrilled to be partnering with a company that helps people, young and old, be the best version of themselves through innovative and adaptable methods,” Beyoncé said.
“Beyoncé's commitment to empowerment and artistic expression is an inspiration to the entire community. It is a privilege to be able to work closely with her and her extraordinary team to expand access to our platform,” commented Gwen Bethel Riley, Head of Music at Peloton.
On the news of the signing of a contract with Beyoncé, Peloton shares on the stock exchange rose in price by more than 5%, according to CNBC.com. Since the beginning of the year, the sports fitness startup has risen in price by more than 250%.