Actors are pictured in this screengrab from "The Gift That Gives Back" exercise bike commercial by Peloton obtained December 4, 2019.
Backlash over Peloton's holiday ad, which featured a young mother working out over the course of a year after being given a Peloton bike as a gift, grew to a breaking point this week as it struck some viewers as confusing, sexist, and classist.
Exercise bike maker Peloton Interactive Inc said yesterday it was encouraged by support from some customers and social media users, despite its Christmas ad coming under criticism for being "sexist" and "dystopian". The commercial ends with her sharing her video diary with her husband and thanking him.
The 30-second video, which has been viewed more than 2 million times on YouTube, was not well received on Twitter.
Others said the husband is "controlling" and "manipulative" for buying his wife the present and claimed he is suggesting she needs to lose weight.
Since the ad was released, Peloton stock has dropped almost 10%.
Refinitiv's Eikon Social Media Monitor showed sentiment towards Peloton turned negative on Tuesday, having been firmly positive in the past couple of months.
On Tuesday, Peloton's stock dropped 9.1%, which some analysts tied to the negative publicity about the ad.
Founded in 2012, Peloton sells indoor exercise bicycles and offers packages requiring memberships to access live and on-demand classes from home. The company is 1) lowering prices for digital-only subscriptions to $12.49/month from $19.99 and 2) launching new apps for Amazon's Fire TV and the Apple Watch.
"We constantly hear from our members how their lives have been meaningfully and positively impacted after purchasing or being gifted a Peloton Bike or Tread, often in ways that surprise them", a company spokesperson told CNBC. "Our holiday spot was created to celebrate that fitness and wellness journey".
Peloton (NASDAQ:PTON) went public on September 26 at $29 and struggled below that level through October.