Only the companies that successfully adapt are able to succeed in the future, and Beachbody has proven its ability to adapt many times over the years. Its founder and Chief Executive Officer, Carl Daikeler, has been at the front of the company’s evolution since its inception. Recently, the company used the ticker symbol BODY to launch its initial public offering. Its good showing was the result of Daikeler’s move to change the workout program’s business model and to successfully run the Shakeology product line. Today, its estimated value surpasses the $2-billion mark.
DVDs were a popular media format when Beachbody was founded, so Daikeler took advantage of that format to provide consumers with workout programs. However, DVDs fell to the wayside over the years, and online content became commonplace. In a move to continue meeting consumer demand for home-based workouts, Carl Daikeler repositioned the company’s offerings. DVDs were no longer offered, and a full library of more than 1,500 workout programs were offered through a subscription. These were delivered via streaming video.
The popularity of this important move was combined with the continued success of the Shakeology products. The Shakeology drinks are a great complement to the workout programs because they have been formulated to offer a robust array of nutrients in a filling formula. As a result, they can reduce calorie intake and boost energy levels.
This company is more than a for-profit business. It also actively manages the Beachbody Foundation. Through this foundation, it offers financial support to International Justice Mission, the Lakota Nation and numerous other impact-making organizations. Carl Daikeler is also a direct contributor and has given $10 million freely to the foundation.