Blockchain Press Releases
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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Blockchain
Reynold Lemkins Group Attends The Asset ESG Annual Summit to Explore New Paths for Corporate Sustainable Development
ESG (environment, social, and governance) is not only an important driving force for promoting the long-term sustainable development of enterprises, but has also become a key factor in enhancing their comprehensive competitiveness. However, as the discussion around ESG has progressed to the present day, there have been an increasing number of related doubts. Especially for enterprises in Asia, the world’s fastest-growing region, finding a balance between achieving ESG goals and maintaining profitability has become an important issue that urgently needs to be addressed.
Against this backdrop, the 7th ESG Annual Summit of The Asset, with the theme of “Staying the course, scaling up,” was recently held in Singapore. This summit brought together outstanding entrepreneurs, investors, and policymakers around Asia to jointly explore how to integrate ESG into corporate strategies and look forward to new opportunities for future business development. As a partner of the Summit, President and CIO of Reynold Lemkins Liu Haoran shared his view on how corporate financing and risk management strategies should effectively combine with the ESG concept.
How should investors choose enterprises with long-term value?
Reynold Lemkins Group has been committed to playing the role of “patient capital,” providing long-term and stable support and companionship to enterprises, and actively involving more long-term investors in the market. At the same time, Reynold Lemkins is also committed to supporting companies that can not only bring financial returns but also have long-term value. Liu Haoran said at the event, “As an investment institution, Reynold Lemkins Group has been working to promote the formulation of sustainable investment standards. Currently, we have multiple methods to evaluate whether potential investment targets have long-term value of sustainable development.”
Liu Haoran first emphasized that Reynold Lemkins closely follows the latest reports of third-party ESG rating agencies. As shown in MSCI’s 2023 report, companies with higher ESG scores usually outperform their peers in the long term. At the same time, Reynold Lemkins conducts an in-depth analysis of the relationship between a company’s financial performance and its ESG commitments through financial statements, ESG reports released by the company, and third-party audit data. The company’s innovation ability is also an important factor to consider about, companies that integrate sustainable innovation into their products and services are more likely to succeed in the future.
How can institutions lead the implementation of the ESG concept?
In the subsequent sharing, Liu Haoran mentioned, “With the rise of ESG investment, investors have begun to use more data sources to enhance their understanding and analysis capabilities of enterprise operations. Regulatory policies play an important role in this process, especially by formulating standardized disclosure requirements, which have promoted the standardized development of global sustainable investment.”
Liu Haoran pointed out that in April this year, the State Council of China issued the new “Nine Provisions,” which clearly proposed to improve the sustainable information disclosure system of listed companies. Subsequently, the Shanghai, Shenzhen, and Beijing Stock Exchanges issued relevant self-regulatory regulatory guidelines, putting forward specific requirements for the sustainable information disclosure work of listed companies in terms of constructing a sustainable development information disclosure framework, clarifying disclosure topics, and encouraging companies to make voluntary disclosures. Since the policy was proposed, 41 listed companies in the A-share market have successively disclosed the implementation rules of the board of directors’ strategy and ESG committee or the company’s ESG management system. At the same time, 114 companies have disclosed their 2023 ESG reports, an increase of 58.33% compared with the same period last year.
Meanwhile, regulatory agencies in Hong Kong are also actively promoting ESG development. In January this year, the Securities and Futures Commission of Hong Kong (SFC) stated that it would prioritize the transformation of the financial market through technology and ESG in the next three years. At the same time, Hong Kong has also strengthened the requirements for information disclosure of listed companies, promoting the improvement of market transparency and helping investors make more informed decisions.
Liu Haoran said, “By adapting to these changes in new regulations and using the newly added data and analysis tools, investors can better integrate ESG factors into investment decisions, enabling them to identify companies that are truly committed to long-term value and sustainable development.”
How can technology enhance ESG investment insights?
Liu Haoran believes that artificial intelligence and machine learning algorithms have been widely used to analyze ESG-related big data. AI can help us identify patterns and trends in the data, thereby optimizing investment strategies. According to Gartner’s forecast, by 2025, more than 50% of large enterprises will use AI to support their ESG strategies, indicating that the role of AI in ESG investment will become increasingly important.
He also added, “Blockchain technology also plays an important role in promoting supply chain transparency and ethical procurement, which is crucial for ESG compliance. According to the forecast of the World Economic Forum, by 2030, blockchain will save nearly $300 billion in costs in the global supply chain while improving transparency and traceability.”
Liu Haoran said that with the popularization of sustainability reporting software, the collection and reporting of ESG data have become more efficient, ensuring the accuracy and compliance of reports. Integrated solutions and tracking tools provided by companies such as Enablon and Sphera help enterprises manage and report their ESG performance more transparently.
“Technology not only enhances our data analysis capabilities but also helps us keep up with the trend of global sustainable investment. Reynold Lemkins will continue to be committed to standing at the forefront of this change, using technology to promote smarter and more efficient investment decisions, so that every investment can not only bring financial returns but also promote the sustainable development of society and the environment.”
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The new, fully self-owned facility enhances Compass’s capacity and offers customers greater choice for machine deployment
WILMINGTON, Del., Nov. 19, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and services, today announced its acquisition of property and power agreements to establish a state-of-the-art mining facility in Iowa. Construction is already underway on the expandable facility, with an initial 8 megawatts (MW) scheduled for energization in January 2025 and plans for expansion up to 30 MW as Compass pursues additional infrastructure investments.
Located on a 5-acre greenfield site, the new Iowa facility marks a significant step in the Company’s growth strategy, increasing its self-owned infrastructure portfolio. With an Electric Service Agreement (ESA) in place, Compass is on track to energize 8 MW of capacity by January 2025. Once operational, Compass customers will have the option to select “Iowa 4″ as the deployment location for new machines purchased through Compass’s platform.
Compass Mining has traditionally partnered with third-party facilities but is actively working to reduce counterparty risk through ownership of its own sites, such as the new Iowa facility, which is both self-owned and self-operated. This ownership model allows Compass to strengthen control over its operations and offer enhanced flexibility to customers.
“This new site marks an important milestone,” said Shanon Squires, Chief Mining Officer of Compass Mining. “By increasing our self-owned capacity, we can provide our customers greater operational control. At the same time, our partnerships with reliable third-party facilities provide our customers greater deployment flexibility, reflecting both power market dynamics and geographic diversity.”
The Iowa facility builds on Compass’s broader U.S. expansion, following the successful energization of facilities across Kentucky (10 MW) and Nebraska (7.5 MW) earlier this year. In 2024 alone, Compass has energized nearly 50 MW of new power capacity across Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas, with an additional 20 MW planned by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
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Blockchain Press Releases
Ethiopia-Exclusive: Bybit Livens up P2P Marketplace with 12,000 USDT in Rewards
DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.
Registration is required for all three events:
1. Merchant-exclusive Event
On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.
The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.
2. Cashback Event: Up to 2% for Existing Users
All buyers have a chance at an easy win from another 8,000 USDT prize pool. Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.
3. Sharers Get More
Users have another way to access a 2,000 USDT prize pool by using the “share” button to spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.
P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.
Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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