Peloton is the manufacturer of a wildly popular home exercise bike that includes the ability to stream exercise classes. The company is heading towards an IPO at a roughly $8 billion valuation, so it’s safe to say this product – and the streaming service – is a hit. So is Peloton primarily a company that manufactures and sells fitness products, or are they an entertainment/media company? Businesses that are entering the market with products that include a streaming media component need to think of themselves as being in both worlds. In March 2019, several major music publishers filed a lawsuit…