GPRO stock rose in late trading on October 7, 2020, after the company announced it passed 500,000 subscribers.
GoPro, Inc. (NASDAQ: GPRO) today announced that high demand for its new flagship camera, HERO9 Black, has vaulted the number of paid GoPro subscribers past the 500,000 milestone.
“Thanks to a stellar global launch of HERO9 Black, our paid GoPro subscriber count is ahead of where we expected to be at this time and bodes well for us to exceed our previously-stated target of 600,000 to 700,000 paid subscribers by year-end,” said Nicholas Woodman, GoPro’s founder and CEO.
The vast majority of consumers purchasing HERO9 Black through the company’s website at GoPro.com are purchasing the camera bundled with an annual ‘GoPro subscription’ that includes unlimited cloud storage of a user’s GoPro footage, a high-quality live-streaming service, no-questions-asked damaged camera replacement, plus savings on cameras and GoPro’s vast line of accessories including a new line of travel and active-lifestyle bags, clothing and lighting products.
Additionally, GoPro shared that high demand for HERO9 Black and the associated GoPro subscription drove 230% growth in GoPro.com sales over the comparable two-week post-launch period in 2019.
“GoPro.com has seen substantial year-over-year sales growth during the post-launch period across all regions, globally,” said Woodman. “Demand for HERO9 Black and the GoPro subscription at GoPro.com are accelerating our shift to a more direct-to-consumer business.”
On September 16, 2020, GoPro, Inc. (NASDAQ:GPRO) announced its new camera, HERO9 Black—featuring “more everything”—including a new sensor that delivers 5K video and 20-megapixel photos, next-generation HyperSmooth 3.0 video stabilization with in-camera horizon leveling, a new front-facing display, a larger rear display, 30% more battery life, and a Max Lens Mod accessory that brings Max HyperSmooth video stabilization and Max SuperView ultra-wide-angle photo and video to HERO9 Black.