Peloton released a statement on Monday after another older male character on a popular TV show was shown suffering a heart attack after using one of its bikes, saying it did not provide any equipment or agree for its products to be shown.
On Sunday, the sixth season of the Showtime series “Billions” premiered, and early in the episode, a character named Mike Wagner, or Wags, played by David Costabile, is shown in his home biking on a Peloton before suffering a heart attack and later recovering.
“We get why these fictional TV shows would want to include a brand that people love to talk about, but Showtime’s use of Peloton’s Bike+ and reference to a Peloton Instructor was not a brand, product, or instructor placement, and we did not agree for our brand and IP to be used on this show or provide any equipment,” a Peloton spokesperson said in a statement to The Hill.
They added, “As referenced by the show itself, there are strong benefits of cardio-vascular exercise to help people lead long, happy lives.”
The episode of “Billions” comes weeks after the character of Mr. Big was shown in an episode of “And Just Like That,” the HBO reboot of “Sex and the City,” suffering a heart attack after a Peloton workout and dying shortly after.
After the episode aired, Peloton said that while it had approved its product’s appearance in the show, it did not know that Mr. Big was going to die.
A representative for the company was quick to point out that Mr. Big led an “extravagant lifestyle” that already placed him at a high risk of suffering a heart attack. Peloton shares reached a 52-week low following the episode.
This depiction of the Peloton bike is just the latest in what has been a less than ideal month for the exercise equipment company. Peloton shares saw a sharp drop last week after CNBC reported that documents showed the company was temporarily halting production.
Peloton reportedly said in a confidential presentation that it would be halting production for two months in February and March due to declining demand. Peloton’s Bike+ production reportedly would not resume until June, and no more Tread+ will reportedly be produced in fiscal 2022.
Peloton share prices have been falling since experiencing a bump last summer.
According to CNBC’s report, Peloton cited consumer price sensitivity as part of what was driving demand down. While Peloton has grown in popularity, with even President Biden reportedly using one of its bikes, it has also garnered a reputation as being price prohibitive and a status symbol for the wealthy.
In August, Peloton lowered the price of its original “Bike” model by $400 following poor financial earnings.
Peloton’s bikes sell for roughly $1,500 to $3,000 depending on the model and add-ons a customer buys. On top of the machine, Peloton all-access memberships cost an additional $40 every month. While the membership is not required to use the bike, it is needed to enjoy popular benefits such as live classes, leaderboards and user metrics.
–Updated on Jan. 25 at 6:00 a.m.