Do studios lose money on ClassPass?

Do studios lose money on ClassPass?

ClassPass for Studio Owners ClassPass partners with studios, offering an easy way to fill empty spots in their unfilled classes and bring in revenue that otherwise might be lost. So in this specific instance, the studio would be losing 60\% of potential revenue by using ClassPass.

How much money do studios make from ClassPass?

This 20\% inefficiency would potentially translate into doubling Classpass’ monthly net revenue This means that the company is likely making $4.8-$6 Million net revenue each month after paying studios. This translates to about $24 per user per month.

What happened ClassPass?

ClassPass Live was an interactive online workout membership. It has been discontinued and is no longer available for subscription. Archived ClassPass Live videos are still available to access on-demand for all ClassPass customers.

Is ClassPass a unicorn?

Last year, the gym membership platform ClassPass become a unicorn, hitting a $1 billion valuation after it closed a $285 million Series E funding. ClassPass, like its predecessor, Classtivity, is a platform where users purchase passes for fitness classes that they can use at any of the ClassPass partner facilities.

How do studios make money with ClassPass?

How Does ClassPass Make Money? ClassPass makes money through a credit-based subscription model that charges users a monthly fee. As opposed to traditional gyms, where customers are charged monthly for unlimited access, ClassPass uses so-called credits that can be redeemed at the gyms and studios it partners with.

How much did Mindbody acquire ClassPass for?

Mindbody acquires ClassPass, merger gets $500 million investment. Mindbody, a B2B discovery and booking engine for boutique fitness providers, agreed to buy ClassPass, a monthly subscription service for fitness classes. Why it matters: Because this is one of those mergers that just made too much sense not to happen.

Who is ClassPass owned by?

Mindbody
Mindbody acquires ClassPass in all-stock deal and secures $500 million investment. ClassPass, the subscription-based fitness marketplace most recently valued at $1 billion, is today announcing that it has been acquired by Mindbody. Mindbody is a bit like the OpenTable of the fitness world.

Is Gympass only for companies?

However, unlike ClassPass’ BTC and B2B model, Gympass partners only with employers who then pay a flat fee for the platform (an app) which then allows their employees to choose from several wellbeing plans that give them access to myriad in-person gyms and studios, and a directory of health apps, such as Calm.

Is ClassPass killing fitness studios?

Classpass is a wolf in sheep’s clothing. They present themselves as a studio’s friend but really they are taking memberships away from studios. Until and unless Classpass institutes a rule to stop members leaving fitness studios for to become members of classpass they are killing fitness studios.

How important is membership to a fitness studio’s success?

Membership is critical to a Fitness Studio’s success or failure. Classpass takes this away. It is the money earned “no matter what” — the “recurring membership” that matters to a fitness studio. Classpass takes this away for itself when they take your members.

Are fitness studios entering into a deal with the Devil?

Fitness studios are entering into a deal with the devil that they will not escape from because unlike a single Groupon deal… Classpass is recurring. When they take away your membership it will never come back. Classpass is a wolf in sheep’s clothing.

Is ClassPass worth it?

Overall, ClassPass is worth it for most people who want to get a taste of the fitness studios in their city—but not for everyone and maybe not forever.