GoPro CEO: Brand much bigger than current product offering
GoPro CEO Nick Woodman on the company's cameras, competition from China's DJI and the diversification of the brand.
GoPro CEO Nick Woodman believes there is an opportunity to diversify beyond cameras.
“The GoPro brand is much bigger than our current product offering,” he told FOX Business’ Stuart Varney on Thursday. “So we do think that there's an opportunity to scale the brand in the new adjacent product categories that are lifestyle oriented and motivate people to live a bigger life and go pursue their dreams.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GPRO | GOPRO INC. | 1.25 | -0.10 | -7.41% |
In addition to making several cameras, they also have a suite of mobile applications that have roughly 16 million monthly active users, and a Plus subscription service, with 220,000 paying subscribers, that is growing 50 percent year-over-year, he said.
When Varney asked whether he’s worried about competition from the China-made DJI camera, Woodman responded, “[We’ve] been able to maintain our leadership position around the world because our pace of innovation leads to simply the best product.”