Planet Fitness Raises Monthly Membership Fee for the First Time in Over 20 Years, CNN Reports

New York, CNN — Planet Fitness, the largest gym chain in the United States, is making a significant change to its membership fees for the first time in over two decades. The popular $10-a-month membership plan, known for its affordability, will now see an increase to $15 for new members starting this summer.

The decision to raise the price of the “classic” membership from $10 to $15 has raised questions among consumers and industry analysts. While Planet Fitness executives did not specify the reason for the increase, factors such as higher interest rates and construction costs have contributed to the decision.

The $10 monthly fee offered by Planet Fitness has long been a draw for individuals looking to join a gym without breaking the bank. This price point has been synonymous with the brand and has helped the company attract new members who may have been hesitant to join a gym in the past.

Despite the price hike, Planet Fitness remains confident that the move will not have a negative impact on its business. Interim CEO Craig Benson stated, “We’ve seen in every industry people move in price. So, it is not going to come as a shock to anybody that we are moving a price that’s been in effect for a long, long time.”

While the increase in the basic membership fee may be a significant change for Planet Fitness, the company continues to offer its higher-tier “Black Club” membership with additional perks and benefits for those willing to pay a higher monthly fee.

As businesses across the country adjust prices in response to economic changes, the move by Planet Fitness to increase its membership fee reflects the shifting landscape of the fitness industry. Time will tell how consumers respond to the price increase and whether it will impact the gym chain’s overall growth and success.