Citi Bike Encounters Financial Trouble

Few details are available about just how troubled the financial situation is at the country’s most recognizable bikeshare program, but it’s possible that Citi Bike will need a cash infusion or a new model to stay in business.

2 minute read

March 21, 2014, 12:00 PM PDT

By James Brasuell @CasualBrasuell


Laura Kusisto, Eliot Brown, and Andrew Tangel share the distressing news about the financial situation of Citi Bike, New York City’s bikeshare program. Although few details are available, here’s what has been reported so far:

  • “The program's leaders have approached officials in Mayor Bill de Blasio's administration about raising Citi Bike's rates…”
  • “One issue is that Citi Bike has proved more popular than expected with annual users who generate comparatively little revenue. Some 99,000 people pay $95 a year plus tax to be able to use the bikes for 45 minutes at a time.”
  • “The potential for far greater revenue, however, is with short-term users. Many of those were expected to be tourists, and they haven't used the bikes nearly as much as officials had anticipated, people familiar with the matter said.” According to the article, “managers don't believe it can survive if it doesn't become more appealing to tourists and expand to new neighborhoods.”
  • Finding additional sponsors has proved challenging because the program has become so closely associated with its eponymous supporter, according to a person familiar with the matter.

The article has a lot more information and analysis of Citi Bike’s financial situation, including a discussion of whether Alta Bicycle Share, the company that runs Citi Bike through a subsidiary, will have to seek public money to stay afloat. So far, it seems, the program has only requested permission from the city to raise rates.

After initial delays, Citi Bike had been touted as a model of bikeshare success, while bikeshare programs in other parts of the country and in London have struggled. 

Thursday, March 20, 2014 in The Wall Street Journal

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 16, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

July 14, 2025 - Smart Cities Dive

Worker in yellow safety vest and hard hat looks up at servers in data center.

Ohio Forces Data Centers to Prepay for Power

Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

July 18 - Inside Climate News

Former MARTA CEO Collie Greenwood standing in front of MARTA HQ with blurred MARTA sign visible in background.

MARTA CEO Steps Down Amid Citizenship Concerns

MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

July 18 - WABE

Rendering of proposed protected bikeway in Santa Clara, California.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant

A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.

July 17 - San José Spotlight