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2018 marked a metamorphosis in Peloton's brand, from being known for its bikes to being known for its content. That summer was when Peloton Interactive first released its digital app, allowing people who didn’t want to pony up for Peloton bikes (and treadmills) to tap into the cult of instructors like Robin Arzón. It was also when Peloton announced it had closed a $550 million round of fundraising to build “a media company akin to Netflix,” as John Foley put it at the time.
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https://www.hollywoodreporter.com/business/business-news/hollywoodization-of-peloton-1234964386/

“The Netflix of Wellness”: Inside the Hollywoodization of Peloton In the spring of 2018 — in the days before Peloton was ubiquitous — the company set out to make a TV ad cool enough to wipe away the perception that its internet-connected bike was a suburban mom t…

“In 2019, Hasbro Studios bought eOne Films so that it could sustain, if not build, its merchandise lines such as G.I. Joe, Transformers and Battleship into an ever-growing cinematic universe spanning TV and film. Mattel, too, is driving adaptations of its top franchises, including Barbie, Hot Wheels, and Magic 8-Ball. Most major sports leagues now see NFTs and sports betting as the key to their growth, while casinos are building out and acquiring lifestyle content publishing businesses. Marvel Studios and DC haven’t been comic book-first companies for nearly thirty years.”

https://www.matthewball.vc/all/what-is-an-entertainment-company-and-why-does-the-answer-matter Plot Twist Entertainment

What Is an Entertainment Company in 2021 and Why Does the Answer Matter? — MatthewBall.vc Why is every media company now an “every media” company? What is it that audiences truly want? And what’s the most important goal for a franchise or IP?