Mindbody is recognized as the OpenTable of the fitness world. Its backend software helps organize classes and bookings for gyms and fitness studios. The company recently announced its acquisition of ClassPass in an all-stock deal to facilitate consumers' post-COVID fitness habits.
Many believe that the future is a hybrid digital and in-person world. Therefore, Mindbody and ClassPass will provide digital product solutions for those who want to remain online. Overall, the merger will create a one-stop shopping experience for businesses and consumers to satisfy their fitness needs. The software will encapsulate thousands of boutique studios and gyms around the country. Studios on ClassPass can now sign up with Mindbody, while former Mindbody consumers will have access to all ClassPasses offerings.
Workout Subscription Platforms
Mindbody Acquires ClassPass to Facilitate Hybrid Workout Settings
Trend Themes
1. Hybrid Fitness - The merging of Mindbody and ClassPass will facilitate hybrid fitness settings, creating digital product solutions for those who want to remain online and in-person.
2. Digital Fitness Subscriptions - Digital product solutions will become increasingly popular, as the merger will create a one-stop shopping experience for businesses and consumers to satisfy their fitness needs.
3. Consolidation of Fitness Software - The acquisition of ClassPass by Mindbody demonstrates a trend towards consolidation of fitness software and platforms.
Industry Implications
1. Fitness Software - The fitness software industry will continue to see consolidation and innovation opportunities with the integration of digital and in-person fitness experiences.
2. Fitness Studios - Fitness studios will have greater access to digital product solutions and the opportunity to reach a wider audience through the integration of Mindbody and ClassPass.
3. Subscription Services - The hybrid fitness trend will likely lead to an increase in demand for subscription services, including digital workouts and in-person classes.