Bike Share Toronto is on pace for a record year in ridership despite operating at a financial loss, a new report indicates.
Scott Collier, president of the Toronto Parking Authority (TPA), which oversees the public bike rental network, said in the report the program is on track to reach 8.1 million trips this year — the highest annual usage in its history.
“This momentum is underscored by two consecutive record-breaking months in July and August, each surpassing one million rides,” Collier said in the Oct. 1 report, released Wednesday ahead of the Oct. 16 TPA meeting.
“Nearly 200,000 new users have joined this year, illustrating Bike Share Toronto’s role as a fast, affordable, and joyful mobility option for consumers.”
Bike Share Toronto began as Bixi Toronto in 2011, with 1,000 bicycles available from 80 locations primarily in the downtown core.
The TPA took over the program in 2014, giving it its current name, and expanding it into a citywide network currently consisting of 1,042 stations and 10,251 bikes, including 2,319 e-bikes.
Bike share users can access the system by either using the mobile application or by purchasing passes at a physical station; pass options include pay as you go, day trips or annual memberships, which include a certain number of unlimited-minute rides.
Ridership has soared annually over the past five years, the city’s transportation department said in its 2024 Cycling Year in Review report. In 2020, 2.9 million bike share rides were logged. In 2024, that figure sat at 6.9 million.
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However, the program is still operating at a financial loss; in 2024, the network pulled in $13.4 million in revenue but had $16 million in expenses. However, that revenue figure grew by $2.9 million compared to 2023, the Bike Share Toronto 2024 Business Review indicates.
Collier said with the network now in all 25 wards, and at the Toronto Islands, it has “solidified its place as a key player in Toronto’s ever growing mobility eco-system.”
However, sustained investment, network expansion and operational improvements will need to continue with preliminary growth projections suggesting ridership could hit 12 to 16 million by 2030, Collier added.
A “cornerstone” to that growth will be the further enhancement of e-bikes and charging stations. Twenty per cent of the fleet is currently electrified, Collier said, and the 2024 business review indicated 1.1 million e-bike trips happened in 2024, compared to 89,000 in 2022.
“Priorities include integrating new docks into municipal capital projects to reduce installation costs, ensuring reliable charging infrastructure, and broadening access across neighbourhoods,” Collier said.
“Electrification will not only increase ridership but also position Bike Share as a modern, sustainable mobility service aligned with the City’s TransformTO and broader transportation objectives.”
Furthermore, through consultation with stakeholders over the spring and summer, the TPA said the key themes that emerged from those conversations around growth included fostering youth adoption through school and campus partnerships, transit integration and revenue diversification beyond ridership, including sponsorships and grants.
Collier said the TPA is reviewing how to best operate and scale the system, and plans on presenting a new, multi-year strategy to the board of directors in December.
“Given the challenges of a large, complex network currently operating at a loss, this evaluation is critical to long-term sustainability,” Collier said.
“Based on performance against the criteria, TPA will determine and recommend the most effective delivery model to drive productivity, operational resiliency and redundancy, and elevated customer experience.”
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