Mindbody Plans to Tackle On-Demand Fitness Videos, CEO Says
*By Chloe Aiello*
Fitness and beauty booking tool Mindbody is planning to make a play for the next big thing in wellness ー on-demand video, CEO Rick Stollmeyer told Cheddar on Thursday.
"You can expect us to be playing in that space, because we think that the on-demand and streaming video revolution hitting the fitness space is a big breakthrough," Stollmeyer said.
Mindbody ($MB) is a technology platform for beauty and wellness companies that provides cloud-based booking, payment, marketing, and business management software. It supports thousands of clients, like PureBarre, ClassPass, and CorePower Yoga, and boasts millions of registered users.
Many of Mindbody's customers are already offering on-demand videos of fitness classes that allow buffs to take them whenever and wherever they want.
"What these \[brands\] are reporting back to us and what we are seeing is that actually it is causing far more accretion of additional people into these businesses than it is cannibalizing them away to stay at home," he added.
Rather than opt out of in-person classes, fitness class patrons are using them to supplement their practice or ease their way into a new type of workout.
"Being able to access this content on-demand from the comfort of my living room means that I can take classes when it's more convenient perhaps. And perhaps for some people who aren't yet ready to go into that class live, \[they\] can experience what it's like, get comfortable with the notion of it, and then they'll convert into customers at the brick-and-mortar locations," Stollmeyer said.
The CEO wouldn't say when the company plans on launching an on-demand service, but he did say the company is "deeply interested" and the platform is "perfectly positioned for it."
His comments come hot on the heels of [the company's announcement](https://www.mindbodyonline.com/company/press/mindbody-enters-into-definitive-agreement-to-be-acquired-by-vista-equity-partners-for) in late December it had entered a definitive agreement with Vista Equity to be acquired for $1.9 billion. The deal would take the company private about 3.5 years after [its 2015 Nasdaq debut](https://www.nasdaq.com/article/mindbody-mb-goes-public-stock-closes-below-ipo-price-stocks-in-the-news-cm488973).
"What we see happening with Vista, these folks have some amazing best practices, they can help us further improve our operations ... they know how to create value, so we see this as a win-win for everyone involved, and most importantly for our customers," Stollmeyer said.
The transaction is expected to close in early 2019.
For full interview [click here](https://cheddar.com/videos/mindbody-keeps-your-business-model-in-tip-top-shape).
Olivia Harlan Dekker breaks down Thursday night's top NBA games, Joe Ceraulo hones in on player props, and Trysta Krick delivers her lock of the night on the hardwood.
Partha Unnava, Founder and CEO and Lasso, joins Cheddar Innovates to discuss how the design behind these compression socks can prevent injuries and improve performance.
The United States Women’s National Team has settled its lawsuit over gender-based pay disparity with U.S. Soccer for $24 million. Filed in 2019, the settlement will end with all claims by the USWNT being resolved following a judge's dismissal of its case in 2020.
Coming off of the latest NFL season, Draftkings has plans for growth and new bettors to join its platform following what it saw as a record year of state legalization of sports betting and Super Bowl action. CEO Jason Robins joined Cheddar News to talk about what in store for the company in 2022, including labor issues leading to the postponement of the MLB's spring training games and the NCAA's March Madness. "There's a lot of really exciting stuff that happens in the first couple of rounds all the way through to the championship game. So typically we've seen incredible activity during March Madness on the betting side," Robins said.
PlayersTV is bringing sports viewers Athletes On Demand, a subscription platform to provide fans with thousands of hours of sports content from their favorite athletes. CEO Angela Bundrant joined Cheddar News to discuss the new rollout. "People can expect to receive content or buy into content on demand that comes from their favorite athletes," said Bundrant, listing star partners like the Phoenix Suns' Chris Paul and New Orleans Pelicans' C.J. McCollum.
Walker Ross, Assistant Professor of Sports Business Management at Florida Southern College, joins Business of Sports: The Beijing Winter Olympics 2022, where he says that actions Beijing and other Olympic host sites have been implementing to combat climate change has simply not been enough to offset their carbon footprint.
Olivia Harlan Dekker breaks down Thursday's primetime matchup between the 76ers and Bucks, NBA champion Richard Jefferson sets the scene for this weekend's All-Star Game, and Alex Monaco discusses who he's bullish and bearish on for Thursday's action.
The 15-year-old Russian Olympic figure skater Kamila Valieva found herself at the center of a scandal after a positive test for a banned substance became public. Valieva fell out of gold contention in the women's free skate after falling, avoiding a potentially embarrassing situation, where a medal ceremony would have been nixed had she won. Scott Hamilton, the retired American figure skater and Olympic gold medalist in the 1984 Games, joined Cheddar to break down the scandal. “It’s a team competition and every member of the team participated in that score and hers should be disallowed”.
Alex Monaco, host of the “The Bettor Half Hour” on MSG Networks and the “Sports Gambling with Moneyline Monaco” podcast, joins Cheddar Bets to give his last-minute tips before tonight's slate of games starts.
Sponsored by BetMGM
Richard Jefferson, host of the Road Trippin' podcast, NBA Today analyst, and NBA Champion, joins Cheddar Bets to break down All-Star Weekend festivities and to give his "Pick 6" for tonight.
Sponsored by BetMGM
