Business

Peloton’s Brand Has Been Destroyed Again After A Bad Role In ‘Billions’


Peloton Interactive Inc.’s stationary bike. on display at the company’s showroom on Madison Avenue, New York, United States, on Wednesday, December 18, 2019.

Jeenah Moon | Bloomberg | beautiful pictures

Warning: This article includes some spoilers for the season 6 premiere of “Billions”.

The hits just keep coming Peloton.

A tumultuous week ended for the connected fitness company, sending shares plummeting as Peloton said it was considering layoffs and planning to the “right scale” production level As demand for their equipment dwindled, another TV personality appearing on a popular TV show suffered a heart attack after riding a Peloton Bike.

This happened about a month later a main character on HBO’s next series “Sex and the City” died of a heart attack after taking a Peloton cycling class.

During the season 6 premiere of the Showtime TV series “Billions,” protagonist Mike Wagner suffers a heart attack while riding a Peloton Bike. However, he soon recovered and said later in the episode, “I’m not going out like Mr. Big”, referring to Peloton’s appearance in “Sex and the City”. (The episode was released early on Friday, ahead of a premiere scheduled to air on Sunday night.)

Based on New York Times, the scene from “Billions” was written and filmed months before Mr. Big. The report said the line referring to Mr. Big was recently added in post-production.

A spokesperson for the show did not immediately respond to CNBC’s request for comment.

Peloton said in a statement on its Twitter account that it does not allow “Billions” to use its trademark in the show.

Peloton’s head of global communications and marketing, Dara Treseder, also said on Twitter: “We don’t give Billions any equipment. long, happy life.”

After Peloton’s cameo in “Sex and the City” started going viral online, the company’s stock plummeted. Quick Peloton shoot back with its own parody, starring actor Mr. Big, Chris Noth, in which he ended his life and advertised the benefits of cardiovascular exercise.

But the rebuttal backfired when sexual assault allegations against Noth surfaced, and Peloton removed his video from all social media accounts. (Noth denied he assaulted the two women, saying “the encounters were by mutual consent.”)

At the beginning of the week, Peloton pre-announced its fiscal second quarter financial results after CNBC reported the company planned to halt production of its bicycles and treadmills, on an uncertain timeline, to reset inventory levels. CEO John Foley later said in a memo to workers that was not true Peloton will “pause all production.”

The company said revenue for the three-month period ending December 31 would be within its previous forecast range, but it added fewer subscribers than expected.

“As discussed last quarter, we are taking significant regulatory actions to improve our profit outlook and optimize our costs across the company,” Foley said in a statement. . “This includes improving gross margins, moving to a more variable cost structure, and identifying our operating cost reductions as we build a more focused Peloton going forward.”

After rising more than 440% in 2020, Peloton’s stock is down 76% in 2021.

Last week, the stock fell back below its IPO price of $29. It closed on Friday at $27.06, giving the company a market capitalization of $8.8 billion.



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