The Beachbody Company Inc., El Segundo, California, has rebranded itself as BODi and has launched a new digital platform and marketing campaign reflective of the company’s newly founded “health esteem” category and health esteem movement, the company announced on March 9, a few days ahead of the planned release of its fourth quarter 2022 and full-year 2022 financials at end of business on March 14.
The rebranding comes about four months after BODi, at the time known as Beachbody, received a deficiency letter from the New York Stock Exchange (NYSE) on Nov. 23 notifying the company that it was not in compliance with applicable price criteria to be listed on the NYSE because its stock had traded below $1.00 for a consecutive 30-day trading period at that time. Beachbody began trading on the NYSE in 2021 after it was part of a three-way merger in 2021 that included publicly traded Forest Road Acquisition Inc.
Pursuant to the NYSE’s rules, the company has six months from receipt of the letter to bring its share price and average share price back above $1.00. At the time of the letter, Beachbody said it was considering its options, which included a reverse stock split that is subject to shareholder approval, no later than its next annual meeting of stockholders.
Since receiving the letter, the company's stock price has remained below $1.00. It closed on March 9, the date of the rebranding announcement, at 85 cents per share, and it closed on March 13 at 71 cents per share.
The company's move to brand itself in the health esteem category is an effort to break from the legacy fitness and diet industry and instead focus on providing content that supports a positive mindset and health esteem, the company said.
“We felt it was important to change the name of the platform from Beachbody because it was actually focusing people on an outcome and an ideal,” said Carl Daikeler, co-founder, chairman and CEO of BODi. “People don’t care about the outcome if it’s at the expense of their self-esteem or lifestyle. The industry is quick to talk about how amazing its services are, but people know better. Before they engage, they need to know how they’re going to overcome the obstacles which have derailed them in the past. That’s the power of a health esteem routine. It’s built for real life, with recovery tools so people never feel like they failed, and it’s how a great life can co-exist with the pursuit of health and fitness goals. Nobody else was enabling that. Now we are.”
The rebranding signals BODI’s commitment to honor individuals of any size, shape or health situation with a platform and app that meets people where they are and offers personalized solutions that fit with each individual’s life and lifestyle, according to the company.
BODi’s Health Esteem platform features a new program, “For Beginners Only,” focused on offering an approachable starting point for people of all experience levels. It features 30-minute workouts, five days per week for three weeks followed by an Unconditional Progress Week that provides the opportunity to dial back workouts and emphasize recovery, reflect on progress and continue to build a strong, resilient mindset.
BODi also unveiled a channel devoted to monthly mindset master classes and hired fitness expert-turned-author and positive psychology performance coach Petra Kolber to serve as its vice president of personal development and mindset.
“One thing I’ve learned after 30 years in the fitness industry is that it doesn’t matter how you look on the outside if you are not happy with how you feel on the inside,” Kolber said in the announcement. “Since I have been working with clients in the area of positive mindset, it’s become clear that you’re not happy just because you look good; you’re happy when you feel good. I’m thrilled to help BODi innovate in the category of health esteem, the only category committed to helping everyone feel seen and achieve their version of a healthy fulfilling life.”
The company also introduced its You Will Fail marketing campaign. Developed in-house, the campaign embraces the fact that everybody “fails.” The language in the 60-second commercial encourages viewers to reject the notion that failure is defeat and is merely part of the process, with the promise that they can confront and overcome failure when they have the right tools and a flexible approach, including the company’s health esteem app that anticipates the challenges and can help people build a mindset to navigate those challenges and keep going.
A subscription to the BODi digital platform gives members access to the new BODi blocks and mindset content, as well as thousands of workouts and hundreds of programs.