If you’re the owner of a GoPro camera, there’s no need to tell you of all the coolness packed in one. But what if you knew GoPro plans to become an entertainment empire, rewarding you in the making of it?
GoPro announced that 2016 is the landmark for a shift in the company’s future. Senior VP of media with GoPro Zander Lurie declared that taking the hardware company to becoming an entertainment business is the next big step.
“We want to build an entertainment business to fit alongside the hardware and accessories business we built”.
Streaming your GoPro videos is the foundation stone of the company’s ambitious plan. And it comes with perks. On Wednesday, GoPro announced that it has 5 million dollars in store for users who create and stream their own unique content. One doesn’t have to be a professional to get into the compensation scheme. It is a win-win scheme for both dedicated GoPro hardware users, as well as for the company building up the dream based on user-generated content.
With over 15,000 videos featuring on YouTube and tagged GoPro, this is a potentially lucrative business. Users will be rewarded for helping GoPro grow the brand and marketing it in the best way they know. By shooting videos and uploading them for the whole world to see.
Currently, GoPro is evaluated at 4 billion dollars with just the hardware business. With building the entertainment business alongside, the company is bound to reach new heights. Let’s face it, adrenaline-laden videos of extreme sports enthusiasts, or a of peaceful bike trail through an idyllic, remote location or the most unique experiences captured with GoPro cameras are filling up Google search results and are addictive.
And beneficial to the company. As it went public in 2014, GoPro cameras sales spiked. With each viral video, the cameras were quickly disappearing from the shelves.
Building on this experience, GoPro plans to become an entertainment empire as well, with the streaming undertone attached. As for rewards, the company will allocate 500 dollars for the coolest photo captured with a GoPro camera, 1,000 dollars for each raw video that is compelling enough and 5,000 dollars for a fully edited video. Overall, 5 million dollars await GoPro enthusiasts.
It remains to be seen how this ambitious and bold plan pans out for the hardware company. GoPro stock price plummeted over the year by almost 56 percent. Shareholders are concerned about the company hitting a wall soon. But with this announcement and the holiday shopping season around the corner, things might take a turn for the better.
Photo Credits: Pixabay