GoPro, Inc. (GPRO - Free Report) recently announced that its new HERO7 line of cameras are now available globally. Notably, HERO7 Black — the company’s new flagship camera — witnessed record levels of social engagement at launch.
The company’s HERO7 product line is available at retail stores worldwide along with the flagship HERO7 Black for $399. The product lineup includes the HERO7 Silver for $299 and the HERO7 White for $199, both delivering industry leading photo and video image quality, 2-inch touch displays, voice control and GoPro's trademark waterproof ruggedness. However, much of the excitement is around the HERO7 Black’s standout new feature — HyperSmooth — setting a new bar with in-camera, gimbal-like video stabilization. Also, TimeWarp, a stabilized time lapse function provides a superior effect to videos as well as the ability to stream live from GoPro to social media platforms. Such ground-breaking features received awards from media outlets and other trade associations as well.
Furthermore, GoPro is inviting its customers for the Million Dollar Challenge, a program that will reward HERO7 Black users with an equal cut of $1,000,000 for their raw video clips if they are included in the company’s product highlight reel set to debut on or around Dec 14. GoPro is aiming toward transforming itself from the ‘camera maker’ to ‘content maker’ and has taken significant steps to diversify into higher-margin businesses including video editing and virtual reality. The company is developing various types of software solutions and hardware to curtail the complexity of managing, editing and sharing contents on different media platforms.
GoPro has made significant improvements to its editing software, on the back of its acquisition of two of the most popular mobile editing apps, Replay (which has been rebranded as Quik) and Splice, which are experiencing robust adoption. The integration of these two apps has simplified mobile content creation for GoPro as well as for smartphone users, thus offering a content enabling platform to millions of users. GoPro’s app Quik will enable users to instantly edit their GoPro footage on their phones and create short videos for networking sites.
Such innovative product offerings are likely to boost GoPro’s top line going forward. Other players in the industry include Sony Corporation (SNE - Free Report) , Dolby Laboratories, Inc. (DLB - Free Report) and Sonos, Inc. (SONO - Free Report) .
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