Which company is mentioned as bankrupt and out of business?

Name: Fitness Is About the Experience Not the Exercise
Uploaded: 2018-10-31T01:54:21Z
Channel: Matt Britton
Description: Modern fitness brands win by selling experience, not just workouts. Color Run ditched the timed race format for an untimed, social event with…

Matt BrittonFounder & CEO powering AI-driven consumer insights

Fitness Is About the Experience Not the Exercise

31 Oct 2018

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Modern fitness brands win by selling experience, not just workouts. Color Run ditched the timed race format for an untimed, social event with color-dousing and a DJ. Barry's Bootcamp and SoulCycle succeeded the same way, turning exercise into something people want to share.

Questions this video answers

Bally's

Color Run has redefined the fitness space, along with companies like Barry's Bootcamp and SoulCycle and Flywheel, because it's been about experiences. A company called Bally's, which is now bankrupt and out of business, had a very old school gym model. You had a membership, it had a cancellation fee. You couldn't bring your friends if you were traveling. You still got billed. And when you went there, it was just about the weights and the treadmills, and you went home. That is not about the experience. It's about exercising. So you look at Color Run, and everyone shows up wearing white shirts. And then you get doused with color power, and everyone is looking like this. About 20 minutes in. Perfect, Instagramable, shareable moment. It's an experience you're gonna share with everybody. The race is untimed. It's not about winning or losing. It's actually about the experience of exercising. But people are still doing the run. At the end, there's a live DJ performance. Exercising is important, but when you layer on an experience, then it becomes a movement.