Peloton unveils partnership with megastar Beyonce

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Beyonce has joined forces with home exercise firm Peloton to create themed workouts aimed at Historically Black Colleges and Universities

Pop superstar Beyonce has joined forces with home exercise company Peloton in a deal to create workout classes featuring her music, geared especially to Historically Black Colleges and Universities (HBCU), the company announced on Tuesday.

The multi-year deal with the award-winning performer will focus initially on creating themed workouts around HBCU fall homecoming festivities, which are mostly being held virtually amid the coronavirus pandemic, the company said.

"Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys," Beyoncé said in a statement.

"I've been a Peloton member for several years, and I'm excited to partner with a company that helps people, young and old, be the best versions of themselves, in an innovative and adaptable way."

She and the company also will donating two-year memberships to students at 10 HBCUs, including Howard University, alma mater of Vice President-elect Kamala Harris.

Beyonce is the most requested artist among 3.6 million users of Peloton's interactive fitness bikes and other workout equipment, and news of the deal send the company's share price soaring prior to the market open.

The company's stock took a massive hit on Monday after Pfizer's announcement that an effective Covid-19 vaccine could be coming soon, meaning people may be returning to work and have less time to spend using home-based services like Peloton, Netflix and Zoom.

But after losing nearly 20 percent the share jumped 3.5 percent early Tuesday, prior to the start of Wall Street trading.

The deal will create classes across multiple fitness categories, including indoor cycling, running, strength, bootcamp, yoga and meditation, the company said.