GoPro's IPO isn't about selling cameras, it's about creating a media empire
J Thoendell stashed this in Film
Put another way, as much as GoPro sells cameras and an ever-growing portfolio of accessories, it also sells a lifestyle. Or as Woodman explains, "It's not awesome just because it's brilliant hardware, or a brilliant device. It's awesome because of what it has enabled this person to do, and how it has made them feel. Then they think about how they did this, and think, 'God I love my GoPro.'" This part of the business -- the lifestyle aspiration, further fueled by user content -- is the next well to tap. As it becomes a challenge to differentiate at a hardware level, GoPro has an option not available to its competition: become a platform as well as a product.
As anyone who's flown Virgin America recently knows, GoPro has already entered the content game with the launch of its in-flight TV channel. We learned at CES that the channel is already set to expand, thanks to a deal with Microsoft that will bring it to Xbox One and Xbox 360 owners around summer -- just in time for that IPO. It's not hard to imagine that GoPro is already exploring other distribution routes. Woodman himself knows only too well that the content opportunities are nearly endless, potentially free and ripe to be put to use. "People have so much of their footage stored on SD cards that they never share," he said. "We could make the argument that less than 5 or 10 percent of GoPro content is actually shared."
"GoPro is a company that develops communities of sports enthusiasts and happens to monetize by selling electronics." ~Chris Dixon
I think he's right, and so does TechCrunch: