Free-floating bike share is working in Seattle. Or at least it sure appears that way according to the city’s first analysis of anonymized private bike share data.
In just two months, people have already taken 120,000 trips on the bikes. And because companies are steadily increasing the number of bikes on the streets, the number of rides each day continues to grow at a steep rate. 6,000 bikes are currently permitted, but SDOT’s Kyle Rowe told the Committee that he estimates the actual number on the ground now is closer to 4,000 and increasingly daily.
In fact, as bike share companies add bikes to Seattle streets, the number of rides per bike per day has increased, as well. This is a big deal, since the business model for free-floating bike share is essentially dependent on this virtuous cycle in which adding more bikes leads to each bike carrying more trips and making more money.
This is good for Seattle, since it gives companies a clear incentive to keep adding more service to the city. And, of course, it’s a good thing for the companies who need to make money to stay in operation and keep expanding. At what point will adding more bikes fail to further increase ridership? Nobody knows. But we likely have a long way to go before we reach that saturation point.
SDOT officials presented (PDF, video) the City Council’s Transportation and Sustainability Committee with a first look at two months of bike share activity in the city, based on data companies are required to report as a condition of the permit. The data adds LimeBike, Spin and ofo information together to look at the sector in general without exposing individual company operations.
The graphs they showed were astounding. Here’s the growth in rides per day: (more…)