GoPro video camera users don’t do anything halfway. So it shouldn’t be a surprise that the company is planning on a massive rollout of programs for its new channel that has just launched as part of Red Bull TV. And it hopes to make GoPro users some money in the process of a company shift to entertainment and cloud-based services.
In an interview with Variety, GoPro founder and CEO Nick Woodman talked about the portable video camera company’s ambitious plans to transform from a hardware-only company to one that offers cloud services and video programming. It comes as GoPro gets ready to roll out its next-generation camera, the Hero 5.
GoPro is planning on having 32 short-form shows launch at the end of this year and in early 2017. According to Variety:
Some of the titles in production include the travel show “Beyond Places,” the music format “Off the Record,” and the family-themed “This Is Gonna Be Fun” and “Kids Save the World.” GoPro also teamed up with Real Madrid for a series on the legendary soccer club, and there’s one about New York motorcycle cops in training.
GoPro… also aims to assemble a giant repository of sports and lifestyle videos through its cloud services. “Imagine when all of that content is managed in our cloud, and you’ve given us rights to license it and monetize it on your behalf,” says Woodman.
It’s a nice thought, but it’s hard to see all but a few GoPro users making money off their video. It could be like the YouTube of action videos: lots of choices, but only a few money makers.
GoPro is looking to create new revenue streams as it has seen a massive drop in its stock price. Shares were selling for $44 a year ago. Today the stock (NASDAQ: GPRO) is trading at a little under $15 a share.