Planet Fitness to increase membership fee for first time in nearly 30 years

Planet Fitness has long charged a $10 monthly fee for the classic membership

Planet Fitness’ classic gym membership will get more expensive for the first time in 26 years.

The cost of the classic membership will increase by $5 to $15 a month for new members, Planet Fitness executives said Thursday as they discussed the company’s first-quarter results. The increase will go into effect in the summer.

The fitness center chain has charged a monthly $10 fee for the tier for nearly three decades.

Planet Fitness sign
A Planet Fitness gym in New York, on Nov. 2, 2023. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
"Only new members who joined after it goes into effect will pay $15 for a monthly membership fee," CFO Thomas Fitzgerald said. "Current Classic Card members will continue to pay $10 for the duration of their membership." 

It had trialed three different price options prior to landing at $15 per month, Fitzgerald said.
He said Planet Fitness is seeking to "further enhance the average unit volumes for our stores" with the membership price increase.
The company’s more expensive Black Card membership did not receive an increase in price. That currently has a $24.99 monthly fee.
Planet Fitness building
Fitness health center entrance showing company logo above doors. (Don and Melinda Crawford/UCG/Universal Images Group via Getty Images / Getty Images)

However, it does have plans to do Black Card price tests beginning around the same time the classic’s hike becomes effective.
Planet Fitness does "take the Black Card price up every couple of years," Fitzgerald noted. It most recently did so in 2022.
The Black Card membership accounts for more than 60% of its new customers, according to Planet Fitness executives.

Overall, roughly 19.6 million people owned a Planet Fitness gym membership as of the end of the first quarter. 
planet fitness spot
A Planet Fitness gym on May 9, 2024, in Richmond, California. (Justin Sullivan/Getty Images / Getty Images)
The company generated $248 million in quarterly revenue and $34.3 million in net income. Headwinds like a "shift in consumer focus in the New Year to savings and concern over the increase in COVID infections and other illnesses" affected its performance, Benson said.

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