San Mateo, CA—GoPro, Inc., announced in late August that its GoPro subscription service has surpassed two million subscribers.
“Our subscription service is having a profoundly positive financial impact on our busines. And we are excited to announce that we have 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,” he said.
GoPro Subscription Service
The GoPro Subscription service provides customers with unlimited cloud storage. It also offers the ability to auto upload footage to the cloud directly from GoPro cameras. In addition, they have access to premium editing tools in the Quik App; a private livestreaming platform; guaranteed damaged-camera replacement; exclusive savings on GoPro cameras; as well as up to 50% off at GoPro.com on accessories.
“In addition to providing our customers with immense value, subscription is now a powerful financial engine for GoPro. It represents the fastest-growing, highest-margin and most profitable product we offer,” added 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. In addition, we expect subscription growth to continue as we add significant new features and benefits on an ongoing basis.”
What’s more the company is celebrating its 20th anniversary in 2022.