There are no two brands more synonymous with the action sports world than Red Bull and GoPro, so the announcement that they are joining forces on a multi-year global partnership sounds like a match made in heaven.
GoPro founder Nicholas Woodman had this to say about the deal:
“Red Bull’s global scale and execution is something to be admired. This partnership is very strategic for GoPro. We share the same vision…to inspire the world to live a bigger life. While we’ve worked closely for many years, as official partners we’ll be able to more effectively help one another execute our shared vision and scale our respective businesses. GoPro and Red Bull, as a match, are as good as it gets.”
Red Bull’s founder and CEO Dietrich Mateschitz had this to add:
“First person perspectives, breathtaking images and cutting edge cinematography are the hallmarks of every story told within Red Bull’s portfolio of productions and live broadcasts. As partners, Red Bull and GoPro will amplify our collective international reach, the power of our content and ability to fascinate.”
The partnership will include content production, distribution, cross-promotion, and product innovation. Red Bull will actually receive an equity stake in GoPro as part of the deal according to Variety Magazine.
“It wasn’t immediately clear how much of GoPro the energy drink maker is going to own, but the action-cam maker can be relieved that at least someone is putting some trust into its stock: GoPro’s shares declined around 83 percent year-over year in light of weakening sales of its core camera products.”
…didn’t realize GoPro was having such a tough year. Maybe this new partnership will give them wings?