Peloton faces backlash, market losses over holiday ad that company says was ‘misinterpreted’
LOS ANGELES - Peloton is facing backlash online in addition to market losses after the release of its new holiday ad, which features a husband gifting his wife a Peloton bike for Christmas.
In the 30-second ad, the woman creates video diary entries to chronicle her fitness journey using the luxury stationary bike over the course of a year.
“A year ago, I didn’t realize how much this would change me,” the woman says to her husband during the commercial. “Thank you.”
While the ad was originally released in November, backlash peaked online this week with many Twitter users criticizing the spot as sexist, classist and dystopian.
Several users mocked the ad by comparing it to an episode of Netflix’s satirical techno-paranoia show, “Black Mirror.”
By Tuesday, shares of Peloton stock had dropped by more than 9 percent, erasing nearly $942 million from the high-end exercise equipment maker’s market value.
Despite speculation, Peloton reportedly does not believe the decrease in the company’s stock was linked to blowback from the ad.
“While we’re disappointed in how some have misinterpreted this commercial, we are encouraged by — and grateful for — the outpouring of support we’ve received from those who understand what we were trying to communicate,” the company told Fox Business.