Planet Fitness Announces First Price Increase in Nearly Three Decades

The popular gym chain will raise its classic membership fee to $15 for new members this summer, marking its first hike since 1998.

Current Classic Card members will continue to pay $10, honoring the original fee for the duration of their memberships.
The price adjustment aims to balance rising operational costs and the impact of inflation, with the $10 rate now equivalent to about $20 in today's money.
Planet Fitness also plans to test new pricing structures for its premium Black Card membership, which includes additional benefits.
The company's decision follows extensive market testing to minimize potential membership loss while adjusting to economic pressures.
Shares of Planet Fitness have shown volatility, reflecting investor reactions to the new pricing strategy and recent company performance.