April 6, 2020 / 6:30 PM / 3 months ago

Peloton halts live classes as employee tests positive for COVID-19

FILE PHOTO: A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. REUTERS/Shannon Stapleton - RC191EDCAAE0/File Photo

(Reuters) - Peloton Interactive Inc (PTON.O) said on Monday it would pause live production of its exercise videos at its New York and London studios through April 30 amid the outbreak of the coronavirus.

Peloton, whose flagship product is a stationary exercise bike priced at over $2,200, had said on Friday an employee at its New York City-based production studio has tested positive for COVID-19, according to a report here by The Verge.

Peloton said here on Monday it would continue to add new, pre-recorded content on its Peloton App, which has a monthly subscription cost of $12.99.

The company also said it would pledge $1 million to cover two months of fees for those in need among its members.

Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel

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