Cycling enthusiasts and weight lifters, unite. Peloton is rolling out a new strength training product.

Peloton Guide is a camera that plugs into TVs to monitor your strength workouts, and it comes bundled with the company's Heart Rate Band. Together, the devices will cost $495 and will launch in the U.S. and Canada in early 2022.

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In terms of hardware, the camera and heart rate monitor are all you get. Peloton says users must buy their own equipment, weights, or accessories, while the Guide will provide "clear, expert instruction from Peloton’s world-class Instructors, engaging programming that will keep them motivated, and technology that will help them better understand and complete strength movements."

By using the Peloton Guide camera system, users can compare their weight-lifting form to the instructor's on screen. Peloton says the Guide uses machine learning to interpret what it sees and provide encouragement and instructions.

Peloton Guide’s Self Mode lets users choose how to view themselves — for example, in a mirror view next to the instructor. The Body Activity feature displays what muscle groups are being worked and recommends classes based on this information.

Along with $495 for the equipment, users must also pay $12.99/month for a Peloton Guide membership. If you're already an existing Peloton member, the Guide membership may require an upgrade, but comes at no extra cost.

While the Guide does have a camera and microphone, Peloton says members will have full control over their privacy, with physical controls to turn off the mic and cover the camera as well as the ability to put the device to sleep.

The new product release comes as Peloton is seeing waning interest in its existing bikes and treadmills. According to CNBC, Peloton recently enacted a hiring freeze in order to cut costs associated with "sluggish revenue and user growth."

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