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Peloton hits brakes on marketing as at-home fitness sells itself

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. Dive Brief: 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.

Read more at:
https://www.marketingdive.com/news/peloton-hits-brakes-on-marketing-as-at-home-fitness-sells-itself/577580/

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