UPDATE: May 7, 2020: This story has been updated to include details of the departure of Carolyn Tisch Blodgett, Peloton's head of global marketing, which were first reported by Business Insider.
Exercise equipment maker Peloton paused cancellable advertising in most of its major markets starting in mid-March, CFO Jill Woodworth said on a call discussing fiscal Q3 results with analysts Wednesday. Revenue soared 66% year-on-year to $524. 6 million during the period, as the coronavirus pandemic drove up demand for at-home fitness programming.
Continued growth and engagement despite a pullback in media spend signals that Peloton's years of brand-building and word-of-mouth referrals are paying off, Woodworth said. The executive forecast that viral word-of-mouth will become "increasingly more important" for Peloton moving forward, a belief affirmed by "increased sales despite having zero marketing media dollars deployed," according to a call transcript provided by Seeking Alpha.
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