Playbook, a fitness app poised to be the Patreon of fitness content, just raised an additional $9.3 million in Series A funding from E.ventures, Michael Ovitz, Abstract, Algae Ventures, Porsche Ventures, and FJ Labs.
The fitness industry has taken a hit since the pandemic began. And with gyms closed, trainers have lost their primary funnel for revenue and new customers. Playbook is their solution. The app aims to give trainers and creators a revenue stream—right from their very own content.
“Easily create and turn your iPhone videos into a subscription income,” reads the company website. “Plus engage with your community, track analytics and much more! Playbook is made for instructors, coaches, athletes and trainers who want to start their own subscription business using the best-in-class mobile technology.”
Playbook provides creators (often trainers) with tools to create videos, grow their audience, and, ultimately, increase their revenue. “We only succeed when you succeed,” reads the site. “You own the subscribers that sign up with you, meaning you get their yearly subscription payment as long as they stay subscribed to the platform.”
Playbook pays creators who bring their own audience onto the platform an 80% cut of all revenue from the users. “No upfront fee, no management fee, no hidden fees,” says the site. “We take 20% on the subscription. The 20% is invested into building more software features and services to help you improve and grow your business. We are a creator-first company.”
For consumers, the pricing is $14.99/month or $99/year.
“Like Netflix, you get access to every instructor for a single low cost subscription,” says Playbook.
TechCrunch shared that “Playbook co-founder and CEO Jeff Krahel said the main focus for the company is to double down on the technology services offered to creators, and the rest will follow.”
Playbook raised $3 million in seed this past June. This latest round brings Playbook’s total funding to $12.3 million.
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