SAN
MATEO, Calif., Aug. 16,
2022 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) today
announced that its highly profitable GoPro subscription service has
surpassed two million subscribers.
"Our subscription service is having a profoundly positive
financial impact on our business, and we're excited to announce
that we've surpassed the two million subscriber mark," said
Nicholas Woodman, GoPro's founder
and CEO. "We expect subscriber growth to continue to impress as we
roll out new features and benefits on a regular basis, driving
subscriber value further."
The GoPro Subscription provides customers with unlimited cloud
storage, the ability to auto upload footage to the cloud directly
from GoPro cameras, premium editing tools in the Quik App, a
private livestreaming platform, guaranteed damaged-camera
replacement, exclusive savings on GoPro cameras, and up to 50% off
at GoPro.com on accessories.
"In addition to providing our customers with immense value,
subscription has become a powerful financial engine for GoPro,
representing the fastest-growing, highest-margin and most
profitable product we offer," said Brian
McGee, GoPro's CFO and COO. "Two million GoPro subscribers
translates into $100 million in
annual recurring revenue with gross margin of 70-80%, positively
impacting our bottom line, and we expect subscription growth to
continue as we add significant new features and benefits on an
ongoing basis."
For details about the GoPro subscription, visit GoPro.com.
About GoPro, Inc. (NASDAQ: GPRO)
Celebrating its 20th anniversary in 2022, GoPro helps the world
to capture and share itself in immersive and exciting ways.
For more information, visit GoPro.com. Open roles can be found
on our careers page. Members of the press can access official logos
and imagery on our press portal. GoPro customers can submit their
photos and videos to GoPro Awards for an opportunity to be featured
on GoPro's social channels and receive gear and cash awards.
Connect with GoPro on Facebook, Instagram, LinkedIn, TikTok,
Twitter, YouTube, and GoPro's blog The Current.
GoPro, HERO and their respective logos are trademarks or
registered trademarks of GoPro, Inc. in the United States and other countries.
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SOURCE GoPro, Inc.