Struggling GoPro looks to expand to other products with BMW and Fisher-Price in developer program. SAN FRANCISCO - Struggling camera maker GoPro has a new idea to boost business--connect its camera to other products. At a press event here, GoPro showcased partnerships with over 35 companies, including car manufacturer BMW and toy-maker Fisher-Price to connect GoPro to products. For instance, with the navigation package on BMW models, you can turn on and off the connected GoPro camera and press record from the dashboard. On a new line of Fisher-Price baby walkers, there will be built-in mounts for GoPro cameras to film baby's first steps.
Struggling GoPro looks to expand to other products with BMW and Fisher-Price in developer program. SAN FRANCISCO -- Struggling camera maker GoPro has a new idea to boost business: connect its camera to other products. Even those used by the under-five set. At a press event here, GoPro showcased partnerships with over 35 companies, including car manufacturer BMW and toy-maker Fisher-Price to connect GoPro to products. For instance, on a new line of Fisher-Price baby walkers, there will be built-in mounts for GoPro cameras to film baby's first steps.
During a fireside chat with press at the Mountain Games, Woodman talked at length about a number of topics, touching on his company's upcoming Fusion 360-degree camera, the current state of VR and its future, and dropped a hint for the Hero6. SEE ALSO: GoPro's palm-sized Fusion 360 camera is the equivalent of 6 GoPros Though it doesn't seem that way, GoPro's got a history of releasing new action cameras annually. Naturally, even though the Hero5 could probably last through two years before needing a refresh, the high-stakes action camera market forces GoPro to launch new versions, or risk getting undercut by no-name brands. I'm expecting something very similar to the Hero5 Black with upgrades internally (think better image quality, low-light video, and maybe even some kind of optical image stabilization or at the very least electronic stabilization that'll work in 4K capture).
If you've been following GoPro for the last few months through its Hero 5 production issues and Karma drone recall (now back on shelves), you're probably not surprised by a disappointing earnings report showing a net loss of $116 million. Now, the company has closed offices and shut down its entertainment division with an eye towards returning to profitability this year. Of course, for fans of its products, the question is what new devices are on the way, and while CEO Nick Woodman didn't drop any specific details, he did confirm that there will be a new Hero 6 action camera this year. And the follow-up is, can you just talk to us a little bit about the product cadence moving forward. I think in the prepared remarks it sounded like this year you will have several new products coming to market.
Ever since becoming a publicly traded company in 2014, GoPro hasn't had the most positive financial results. The camera maker has been struggling to be profitable, as shown by its past few quarterly earning reports, but its future isn't completely bleak. Today, GoPro exceeded Wall Street expectations, thanks to $296.5 million in revenue during Q2 2017, versus the roughly $270 million the market anticipated -- it's also a huge jump over the $220.8 from the same quarter last year. That said, GoPro still isn't profitable, since it reported yet another revenue loss. This time however, it was $30.5 million, which is much less than the 91.8 second-quarter loss in 2016.