Peloton CEO Barry McCarthy says an app store and new subscription model are potential ways to kickstart the company’s stagnant sales. Peloton’s new CEO, Barry McCarthy, is the new CEO of peloton.

Mccarthy served as the former chief financial officer of Spotify and Netflix. He says his vision for peloton may include an app store open to third-party content.

Peloton’s fitness equipment has’only just begun to develop’. Peloton says the most valuable experiences come from on-screen interaction with instructors, music, and community features.

Instead of selling peloton’s equipment for upwards of $ 1,000, McCarthy envisions a’dramatically lower’ upfront cost and a higher subscription fee of’maybe $ 70 or $ 80′. Peloton currently offers its subscription for $ 39 / month.

Peloton overcompensated by spending hundreds of millions to expedite shipping and build a new factory. Sales began to slump so that the company put a pause on treadmill and bike production.

Mccarthy’s first day on the job was marked by a tense meeting with fired peloton employees. The former CEO stepped down earlier this month and announced the termination of 2,800 employees.