This TechCrunch report says that GoPro has had horrific Q3 earnings. It has missed its revenue expectations by 23%. The trading of its shares was stopped before the declaring of the Q3 results and when the trading was resumed its share prices were 22% down.
Don’t know what’s GoPro? Well, that might be the reason why the company isn’t doing well. Surprisingly, among its users, GoPro has almost become a verb like Google or Xerox.
GoPro, in its current format, is a wearable camera. You can wear it on yourself or you can fit it on the collar of a dog or a cat which is what many people have been doing to post amusing videos on YouTube.
Here is a video inadvertently taken by the GoPro camera of a daylight robbery at gunpoint:
Suddenly, places that you cannot access otherwise, become accessible to shoot. These are very small cameras producing high-quality video and you can tie them anywhere – your surfboard, your helmet, you drone, the rear end of your bike, anywhere. A good thing about a GoPro camera is that it gives you high quality video at a very low cost.
So why isn’t GoPro doing well? I think it is still for geeky people or people who are fine with spending some time figuring things out. My sister-in-law is a well-known travel blogger and she was gifted a GoPro camera by some company. Various parts of the camera needed to be fitted together in order to be able to use it for the first time and a mobile phone app needed to be set up.
Even after capturing the video, you need to process it. So, in the times of point-and-shoot, this seems a bit burdensome. So, only those would go through the exercise who really want to go through it. For the general public who has gotten used to smartphone cameras that simply work, the GoPro cameras may seem like an unnecessary hassle. Not everybody wants to capture cool videos of one squirrel chasing the other. People want to make simple videos. For GoPro to work well, it has to work straight out of the box.