Largest gym chain in US raises prices for first time in 26 years

National gym chain Planet Fitness is raising prices on its basic membership plan for the first time in 26 years.

Beginning this summer, the price of a “classic” membership plan at Planet Fitness will cost $15 per month, up from the $10 price which had been in place since 1998. Current Planet Fitness members who joined at $10 per month will continue to pay that amount until their membership expires, the company said in its first quarter 2024 earnings call Thursday.

“We use a disciplined data-driven approach to determine the best balance between the higher dues while minimizing loss of membership,” CEO Craig Benson said on the call. “Based on our learnings, we decided to change the price of the classic card to $15.”

Planet Fitness, the largest gym chain in the U.S., said it raised prices on its basic membership plan after conducting price tests in several markets across the country.

The company said it will conduct similar tests for the gym’s top-tier Black Card membership, which is currently $24.99 per month and comprises about 60% of the company’s customers. The Black Card membership offers customers access to any Planet Fitness location, while the basic membership allows access to one location. Both memberships also include a $49 annual fee.