By Jamie Menaker | photo credit ClassPass
Happy Friday Sweat Lifers! You thought the ClassPass drama had died down? Wrong!
Just to refresh your memory this all started in April 2016, after ClassPass raised their rates twice in one year — from the original $99 per month for unlimited classes, to almost DOUBLE the original rate at $190 per month for the same offering. No perks, no warning. ClassPass users were irked, to say the least. (Let’s just say #classpasspoclypse became a thing.)
Now, Vanity Fair has received leaked documents as to the future of ClassPass:
“On Wednesday, Vanity Fair received an unlabeled envelope containing what appears to be a ClassPass pitch deck and financials from several months ago. The envelope was sent from a group that calls itself ‘Save Our Studios L.L.C.’ However, a call to the building manager at the given address in Manhattan revealed there was no such entity.”
We can’t speak to whether the ClassPass pitch deck at Vanity Fair is legit or not — but here are the key points it touches on for the future of ClassPass:
1) The financial projections for the year ahead: A 2016 forecast of $200 million, and a projected subscriber count of more than 200,000 by the end of the year. (In March, ClassPass reported an annual $100 million revenue, and 15 million reservations on the platform to date.)
2) ClassPass plans to move beyond boutique fitness studios — with live studio fitness videos available on services like Apple TV & no commitment, stand alone passes to big box gyms in every city.
3) ClassPass will launch “LifePass” which covers every non-fitness class imaginable like art, language & cooking — as well as live performances and concerts, and volunteer slots.
Did we all just get duped? While we were busy griping about the rate increase, is it possible ClassPass has been silently laughing and making plans to take over the world?
Yet, if ClassPass continues to raise the rate, is the model sustainable in the first place? And more importantly, take note that this leaked document came from "Save Our Studios L.L.C." a fairly accurate marker of how fitness studios in NYC feel about ClassPass. If the company is struggling to get along with the fitness industry they've built their entire business around, how are they going to keep business owners happy in all the other industries they plan to conquer?
We want to hear your opinion. Do you use ClassPass? Hate it/love it? Let us know.