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 summertime.
The fitness center chain has charged a monthly $10 fee for the tier for nearly three decades.
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."
He said Planet Fitness is seeking to "further enhance the average unit volumes for our stores" with the membership price increase.