A more social environment
As the world continues to become more social, GoPro (GPRO) is looking at a significant opportunity to build its core camera application and cloud business.
GoPro’s action cameras help people to capture and record their experiences on the go. GoPro has integrated its HERO cameras with applications that make it easier for customers to share footage using their phones.
Growth across social media platforms
In the chart above, we can see that GoPro’s number of YouTube subscribers has grown at a compound annual growth rate of 30% from 2 million in the first quarter of 2014 to 6 million in the first quarter of 2018. On Facebook, its number of Likes has increased from 7 million in the first quarter of 2014 to 11 million in the first quarter of 2018, while on Instagram, its number of followers has increased from 2 million to 15 million in the same period.
There were over 148 million video views of GoPro content on social media at the end of the first quarter, reflecting a rise of 8% year-over-year, while there’s also been a 93% increase in median organic viewership per video on YouTube.
While GoPro has managed to gain a substantial footprint in social media, the company is now looking to convert this popularity into sales.