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With new releases on the horizon, things are looking up for GoPro.
With new releases on the horizon, things are looking up for GoPro. (Photo: Courtesy GoPro)

GoPro Is Finally Starting to Right the Ship

For years, the action-cam maker insisted it wanted to become an entertainment company. Now it's back to focusing on a few core products鈥攁 strategy that is finally working

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With new releases on the horizon, things are looking up for GoPro.
(Photo: Courtesy GoPro)

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Things haven't looked good at GoPro聽recently. After a rapid ascent, it went public in 2014 with a big IPO, hired way more people than it needed, and tried to become an entertainment company. Then the bottom dropped out, with shares hitting a high point of $87 before聽plummeting back down to around $10, where they've hovered聽pretty much ever since. When it had to recall the Karma drone 10 days after its launch, we half expected news of a sale or a bankruptcy. But in the past six months, GoPro聽appears to have pulled out of its tailspin.聽

In this month's earnings call, GoPro聽CEO Nick Woodman聽reported that the company in the second quarter. That鈥檚 34 percent better than Q2 of 2016, which was one of the company's聽worst periods ever. The news isn鈥檛 all good鈥攖he company still lost $30 million last quarter鈥攂ut it鈥檚 much better than the company鈥檚 $90 million loss in that same quarter a year before. Woodman is sticking to his claim that the company will return to profitability by the end of the year.聽

So what鈥檚 behind聽骋辞笔谤辞鈥檚聽turnaround?聽First and foremost, it went back to聽focusing on its product. The is the best-selling digital camera in the U.S., and has been for the past three quarters, according to the NPD Group, an industry聽consultant firm. This is especially impressive considering the rough start it got: the Hero5 Black had some significant production delays, which meant that GoPro聽couldn鈥檛 keep up with demand ahead of the crucial holiday season. Its smaller sibling, the聽, which initially launched to lackluster reviews,聽is in the top five best sellers.聽

“I聽think聽GoPro聽is having success at least in part because their devices are embracing new technology聽that consumers find useful, like 4K video聽and voice control,”聽says聽Ben Arnold, an聽industry analyst for NPD. “These聽features that have been successful in other technology products聽are helping to drive interest in聽骋辞笔谤辞鈥檚 new ones.”聽

骋辞笔谤辞鈥檚 is also back from the near-dead. When they聽were聽first released last fall, some of the drones would fall spontaneously out fo the sky, prompting a聽full recall just ten days after it launched.聽GoPro fixed the faulty battery latch that caused the issue, and聽relaunched the Karma聽in February.聽The company now聽claims the drone is the second best-selling model in the U.S., despite not being as feature-rich as the DJI lineup. Those sales聽may be bolstered by the fact every Karma comes with the聽, which allows you to pull the three-axis gimbal off the drone and use it as a handheld stabilizer,聽making the Karma system a more complete filmmaking package than its competitors.聽聽

The most recent earnings report was also boosted by the fact that聽GoPro has been scaling back. The company has cut nearly 300 jobs (or 15 percent of its workforce) since last fall, including the elimination of聽its entertainment division. This was a major change for a company who, just a few years prior,聽had been pushing to become a media company like聽Red Bull, and had dedicated significant time and money to content generation. Supporters of that approach may聽point to GoPro's YouTube presence, which is still one of聽the top ten most popular brand channels, with .

But much of聽that YouTube traffic was organic. Its cameras are so widely distributed at this point (especially among extreme athletes) that they are bound to be capturing cool action聽pretty regularly. GoPro probably doesn鈥檛 need a whole entertainment division to license those videos, throw its branding on them, and pop them onto its own channel鈥攗sers are already doing that for them.

Being 30 million in the hole for your second quarter isn鈥檛 great, but the fall season is looking promising. GoPro is planning on launching the Hero6 line, and, according to Woodman, production is actually on schedule this year. We can assume it will include a Hero6 Black, and maybe a Hero6 Session, too. The company is also planning on launching its first 360 camera for VR with the GoPro Fusion, and there are rumors that we could see聽a Karma 2 drone聽as well. Nobody is coming close to touching GoPro in the action-camera market when it comes to market share; so聽if everything goes smoothly with the upcoming launches, the company has a very good shot at being back in black before the end of the year.聽

Brent Rose is a freelance writer, actor, and filmmaker, currently traveling the U.S. living in a high-tech van, looking for stories to tell. Follow his adventures on , , , and at

Lead Photo: Courtesy GoPro

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