According to the latest news on the 28th, GoPro, a sports camera maker, announced the latest financial report for the second quarter of 2016. The report shows that GoPro’s revenue for the second quarter was US$220.8 million, a decrease of 47.4% compared to the US$4.2 billion revenue for the same period last year; the net loss was US$91.8 million, while net profit for the same period last year was US$35 million, a drop of 362%.
In fact, starting from the fourth quarter of 2015, GoPro has begun to lose money. In the fourth quarter of 2015, GoPro’s revenue was US$436 million, a decrease of 31.1% from the same period of last year; the net loss was US$34.5 million, compared with a net profit of US$122 million in the same period of last year. In the first quarter of 2016, GoPro’s revenue was US$183.5 million, a 49.5% decrease from the US$363.1 million in the same period of last year; the net loss was US$107.5 million, compared to a net profit of US$16.8 million in the same period of last year. .
Contrasting with continuing losses, in the past two years, as the world's most popular sports camera brand, more than 20,000 users have uploaded GoPro videos via GoPro Studio software every day, and more than 6,000 users have uploaded GoPro videos on YouTube, Youtube There are more than 4.1 million followers on the GoPro channel. The data shows that GoPro occupies 80% of the market share of extreme outdoor photography, and its sales and praise on the Amazon website are far ahead of the industry. In 2015, with the exposure of the HERO series of cameras in Mars rescue, Where is my father to go and how to run men and other film and television entertainment, GoPro products have almost become a celebrity camera brand that we all compete to purchase.
So, why has such a star company so hot that it will lose three consecutive quarters?
As a photographic equipment company, GoPro has successfully printed its own branding of outdoor extreme sports. When we talk about GoPro, people naturally think about extreme sports such as surfing, skiing, and parachuting. Except for a small number of bizarre people, non-outdoor sports people with a larger proportion of the population may not consider buying. And with GoPro's continued popularity, those who like outdoor extreme sports have already purchased their own GoPro cameras, then GoPro is naturally faced with the "unstable" dilemma.
The data shows that GoPro’s profits tripled from 2010 to 2011, but only increased by 125% from 2011 to 2012, and only 87% from 2012 to 2013. The growth rate is getting lower and lower, indicating that GoPro is saturated in the extreme sports market.
GoPro is clearly aware of this. Starting in the second half of 2015, the company’s advertising has changed from the pulsating outdoor sports to the warm and lovely kids skiing. Obviously, GoPro wants to change its inherently extreme sports image through advertising, and gradually transforms it into a mass-market camera brand for ordinary consumers.
In addition to advertising, GoPro's more transformational actions certainly take place in products.
 Product transformationDrone . On GoPro’s official website, Karma’s first page of UAV’s promotional pages and video connections have already appeared. According to the news at the end of 2015, the company said it will launch this flagship video drone product in 2016, but it has not yet been released. According to the analysis, with the good user reputation of GoPro in the sports camera market and its own deep technical accumulation in imaging, drone products should have a positive impact on the company's future financial reports. However, the problem is that the drone market is still not mature, and the relevant policies and applications are not standardized. In addition, the competition of leading industries such as Dajiang, and the addition of these "spoilers", such as Xiaomi Tencent, are planned by GoPro. The UAV move may not be so good. (By the way, Amway's drone promotion video from GoPro is still pretty good, poke the link )
360 degree panoramic camera . GoPro has a natural advantage in this area. The official website also has its own Omni publicity page for the first panoramic camera. It displays the same soon as the Karma drone. According to GoPro's introduction, this Omni panoramic camera combines six HERO cameras into one cube, all cameras shoot high-quality images at the same time, and finally splicing 6 photos to form a panoramic photo. According to the official website, the panoramic photo The resolution can reach 8K. However, the panoramic camera is still a relatively niche area, few users know, few users, plus the current is not perfect mosaic imaging effects, Samsung Gear360, Ricoh Theta S and LG CAM 360 and other products competition And, with relatively high selling prices, GoPro wants to make a breakthrough in this area and it will take time.
VR platform . At the bottom of Omni's panoramic camera page, there is also a promotional map for GoPro VR. According to the official GoPro company, the 360-degree images taken by the Omni panoramic camera are processed by the virtual reality software and can be played on Oculus Rift, Google Cardboard, and Microsoft HoloLens via the GoPro VR platform. YouTube 360 ​​is also supported. Online video service. If this idea is successful, GoPro may well launch its own VR device and go all out to enter the VR world. It is undeniable that the combination of GoPro VR and Omni's OmniVision products is a good idea, but the VR/AR market is still in its early stages, and all the giants other than Apple have invested in the reality of VR/AR Red Sea. The future of GoPro VR is really worrying.
Obviously, GoPro in the transitional exploration period can not give investors a satisfactory financial report data in the short term. However, as a successful company with its own technology accumulation and product style, as well as a serious and responsible attitude towards consumers, we hope that GoPro will go better and better.
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