Partnership between Red Bull and GoPro
Red Bull takes over shares from GoPro
Camera manufacturer GoPro and energy drink producer Red Bull are entering into a partnership in content production, distribution, cross-promotion as well as product innovation. While Red Bull takes over shares from GoPro, the producer of action camcorders becomes the exclusive partner for point-of-view cameras.
GoPro will be integrated for media production and to record events from spectacular perspectives. The films will be published via the channels of both companies: GoPro Channel, Red Bull TV, Red Bull.com and the Red Bull Content Pool media services platform.
GoPro founder and CEO Nicholas Woodman said, "Red Bull's global reach and strategy execution is absolutely admirable. This is a very strategic partnership for GoPro."
"Unique first-person images, breathtaking angles and innovative filming are the hallmarks of Red Bull productions and live broadcasts," said Dietrich Mateschitz, founder and CEO of Red Bull. "As partners, Red Bull and GoPro together will not only expand our collective international reach, but also our ability to fascinate people and can make content even more engaging."
GoPro needs to reposition itself, as the U.S. company recently saw a 50 percent drop in revenue. Prior to Red Bull's entry, GoPro had already announced a collaboration with a Formula 1 team and the purchase of two video apps.