Friday, September 18, 2020

Tonal is the latest connected fitness startup raising big money | Music Ally

From watching Peloton we know how interesting the connected fitness world is, with exercise devices for the home accompanied by live and on-demand workout videos and other digital features.

And we also know that music is often an important part of these services, often with licensing opportunities (and the odd argument) for rightsholders.

Anyway, it’s a sector worth keeping an eye on, not least because there’s a TON of venture-capital money flowing into it at the moment. Tonal is the latest example.

It’s a big wall-mounted screen that helps people to do their strength training, with built-in weights and a team of coaches on hand digitally. It’s also just raised a $110m funding round, not that long after a $45m round in April 2019.

Meanwhile, earlier this week another connected fitness startup, Zwift – which is more about at-home cycling and running – raised a whopping $450m funding round.

Just more incentives for the music industry to seek out partnerships with these companies. Talking of which, on 1 October, we’re teaming up with UK body the BPI on an insight event all about music, wellbeing and tech – fitness included. Find more details on that here.

Stuart Dredge


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