Originally published in AdAge. Image credit: iFIT

Move comes as marketer of NordicTrack, Weider and other brands triples worldwide ad spending to $379 million

IFit, the maker of interactive fitness equipment brands including NordicTrack, Proform, Weider and Freemotion, has awarded OMD Worldwide its U.S media business, with the potential for expanding the remit to international markets (including Canada, Mexico, U.K., France, Germany, Australia, China), according to the agency. The move follows a four-month competitive review.

WPP’s Mindshare was also a finalist in the pitch, the brand confirmed. Mindshare wasn’t immediately available for comment.

This is a particularly significant win given that iFit has been rapidly increasing its ad budget, tripling worldwide spending to $379 million for the fiscal year ended in May 2021. That brought iFit’s spending close to its main competitor, Peloton, which boosted worldwide ad spending 38% to $418 million in its fiscal year ended in June 2021.

The scope of OMD’s assignment includes strategic planning and buying across traditional, digital, and performance media including direct-to-consumer, e-commerce and mobile acquisition, data and technology consultancy, and advanced measurement services for the U.S. region.

“Throughout an extremely competitive review, we were consistently impressed by OMD’s strategic insights, commitment to delivering both efficiency and effectiveness, and genuine shared passion for assuring iFIT’s long-term success—a combination that made them the best choice for iFit,” said Eric Watterson, the company’s chief marketing officer.

This news comes nearly a month after the exercise company postponed its initial public offering due to “adverse market conditions.”

Brands such as iFit and Peloton, which saw a surge during the early months of the pandemic due to lockdowns and gym closings, seek to continue their momentum while competing against one another in the “physical activity economy” that is valued at $828.2 billion globally and is expected to surpass $1 trillion by 2023, according to a 2019 report by the Global Wellness Institute.

In its IPO filings, iFit admitted that “increased demand levels could decline … as economies eventually normalize due to vaccine distribution and consumers spending less time at home.” Earlier this month, Peleton announced it now expects fiscal 2022 sales of $4.4 billion to $4.8 billion, down from its prior forecast of $5.4 billion.

“As iFit takes its growth strategy to the next level and looks to dominate a surging category, OMD has the breadth and depth of capability to meet their evolving needs and fully harness the power of media, data, and technology as a catalyst for business success,” said George Manas, CEO OMD Worldwide, who led the pitch during his previous role as president of OMD U.S.

This marks the latest significant win for OMD this year. In October, OMD was named media agency of record for Legal Zoom. The agency was also named media agency of record for Home Depot in January.