As a digital marketing agency, we understand the delicate balance between cost control and brand presence. Peloton’s recent decision to slash its marketing spend—down 37% year-over-year—is a bold bet on profitability, but the data tells a more sobering story: it’s undermining their brand visibility and long-term competitiveness.

The Real Cost? Declining Share of Search

From our analysis of recent Share of Search (SoS) data, Peloton’s visibility is steadily slipping. Between June 2024 and April 2025, Peloton’s SoS dropped from 27.3% to just 19.33%, despite previously leading the connected fitness category. While competitors like ProForm and Echelon maintain or grow their presence, Peloton is fading from consumer mindshare.

This decline is mirrored in search volume too—Peloton saw a drop from 430,450 in June 2024 to 115,790 in April 2025, a 73% decline. In comparison, rivals like NordicTrack and Tonal held steady or improved during this same period.

Why Share of Search Matters

Share of Search is not just a vanity metric—it correlates strongly with market share and future demand. In a high-intent, high-consideration vertical like fitness equipment, losing search interest today can translate to lost sales tomorrow. Consumers aren’t just comparing prices—they’re comparing presence, trust, and brand familiarity.

Stellar’s Share of Search Tool: A Strategic Advantage

At Stellar, we use our proprietary Share of Search tracking tool to monitor brand trends across digital channels in real time. It helps brands understand not just how they are performing, but how they stack up against their category. For Peloton, this kind of insight could’ve served as a warning system—flagging declining awareness long before it shows up in revenue reports.

The Takeaway

Peloton’s cost-cutting may boost short-term margins, but it’s sacrificing long-term brand equity. In competitive markets, you can’t just “spend less” and expect the same performance. As visibility drops, customer acquisition becomes harder and more expensive—ironically working against the company’s goal of profitability.

If you're a brand navigating the same crossroads, don’t guess—measure. Invest in visibility, monitor your SoS, and use the data to make informed, strategic decisions that fuel both growth and profit.