Many of us use GoPro’s wearable action cameras to capture exciting images and crazy videos. It allows us to record great moments while performing adventurous sports like skydiving, shark-riding, flying drones etc. Few years ago the story was completely different. GoPro, the California based consumer electronic company just changed the way how we used to capture photos and videos.
Our phone can act as a video game console, fitness tracker, GPS system, as well as camera. In a situation like this, it requires courage to launch a company that deals with a single thing. Even if it could do that one thing well, really well, even then it would be a great risk to introduce an electronic device in the age of smart phones.
Just a few years ago, we have seen the rise of the video camera manufacturer Flip. A great camcorder dominated the video camera market for a long time. Even in the era of Flip, GoPro sold its first camera in 2004. So here arises the important question what made GoPro different than Flip. The user experience is the answer to this question. Even today GoPro not only sells cameras but also offers something extra that smartphones cannot easily replace. The great experience of using the camera makes GoPro one of a kind. When, people use the right GoPro accessories along with the main device, the get more out of their action camera.
In a recent interview when Ben Arnold (consumer technology industry analyst) was asked about GoPro, he said, “They don’t just sell a video camera, they sell the memory of the wave or the ski trip down the slope,” He also added, this is the main reason why companies like Fitbit and Beats are so popular these days. It has been a decade iPhone was a symbol of someone’s status. But now it has become a utility product. But someone uses a GoPro Hero 5; he sends the world a message that he is doing something exceptional, something amazing.
Their customer base has also helped them a lot to build the reputation. GoPro users have already flooded the internet with adventurous videos and photos. Within 2013, their customers had uploaded over 2.8 years’ worth of videos. In the first quarter of 2014, customers had uploaded 50 million hours of videos. They have also mentioned the term GoPro either in their filename, or in tile, or in description or tag. Each of these videos not only served as a customer testimonial but it also acts as an influential advertising material. It also encouraged millions of other people to buy GoPro.
In order to avoid the market saturation, GoPro is currently focusing to turn them into a media company. They are planning to launch a GoPro Channel on Xbox Live. Recently they have also signed a deal with Virgin America to get in-air entertainment license. The company has not taken any revenue from the deal. The S-1 of the company has said that from this year they will start earning revenue from its Virgin America, Xbox and YouTube channels advertising.
If GoPro can make this transition successfully, it will be a case study, which will show the rest of the world what it takes to build successful consumer electronics company in a smartphone-dominated world. GoPro must also thank to those third party manufacturers who are continuously innovating GoPro Hero 5 Accessories to enhance the performance of GoPro.