Peloton is reportedly bleeding subscribers in the wake of its May recall of nearly 2.2 million bikes over a defect that could result in the seat breaking during use. The company offered original Peloton Bike owners in the U.S. free replacement seats, but a flood of requests has left it scrambling and customers waiting for months. Roughly 20,000 subscribers have paused their monthly subscriptions in the meantime, according to a Peloton shareholder letter released this week.