Revenue model gym – Gyms have had it rough during the corona crisis. Members weren’t allowed to use the gyms for their work-outs, or only a handful were allowed inside at the same time. To still remain in good shape, people chose to continue their programs from the comfort of their own home.
This has motivated several gyms to create their own online gym platform. Because of this, the revenue model of the average gym has changed.
In this blog we will show you exactly how the rise of online gym platforms has changed the revenue model of gyms and how gyms can benefit from this in the best way possible.
“Offline” gyms have always had the same type of revenue model: the subscription model. With this subscription model, members pay a fixed amount per month. This amount depends on the extra’s that are offered by the gym.
For example, there are gyms that offer a basic subscription, where you can still pay for extras such as:
- unlimited work-out drinks
- a personal trainer (for each level)
- group lessons
There are certain gyms that make you sign up for a subscription that requires you to stay subscribed for a minimum amount of time. This however really depends on the gym itself.
This type of model has been getting more and more recognition over the years. Some of the most obvious examples of this are:
Wakuli – monthly subscription of coffee
HelloFresh – weekly subscription of meals
Netflix – monthly access to movies, videos and tv-shows
Due to corona, many gyms have focused their attention on the online gym platform. With said platform, members are able to shift the location of their workouts to their own living room. At AudiencePlayer we regularly get clients that shift their yoga and gym activities to an online learning environment. With your own AudiencePlayer video platform, you can offer your lessons completely online.
As always, an online learning platform brings along many benefits and possibilities. The traditional subscription income is shifting towards different revenue models. This way, online gyms can use the revenue models offered by AudiencePlayer:
Revenue models for online gyms/learning environments:
- SVOD – A user pays periodically for access to all videos.
- TVOD – A user pays one time for access to a specific video.
- Video rentals – A user buys a workout video for a certain amount of time.
- Advertisements – Access is free. The gym makes money by showing ads.
- Credits – A user buys a certain amount of credits, which they can spend on trainings and videos of their choice.
Apart from the traditional and the online gym, these revenue models are also very well suited for businesses in different industries. For example, how about a video store versus Netflix? Or a university versus an online school?
So, are you interested in creating your own video platform? We got you! With our super handy and easy-to-use templates, you get to start your online platform in no time. They’re super effective and hardly take any effort. You can find the possibilities of AudiencePlayer right here >>