GoPro's (NASDAQ:GPRO) vice president of development and investor relations, Colin Born, shared a number of unique insights about the company on Tuesday, Aug. 11 when he spoke at the Oppenheimer 18th Annual Technology, Internet & Communications Conference. Here are some of the most helpful takeaways for investors.
GoPro's target audience is expanding
When asked who GoPro's primary customer is, Born said the company's buyer demographic has been broadening over the last few years.
Initially, I think we were very heavily skewed toward the kind of twenty-something, thirty-something -- probably more males. And over the last year, year-and a half, it's fanned out into parents, like myself ... Typically GoPro's about recording and sharing your passion, and my passion is my kids ... And people are finding all kinds of interesting things to capture in their lives.
While GoPro cameras were initially known for being used to capture action sports, uses have expanded to virtually all kinds of different types of moments, including everyday life, family events, and vlogging.
The "action camera" term, Born said, "only captures a small slice of the value these devices bring to bear.
The company's newest camera, its Hero4 Session, is clearly aimed at a wide audience. With its much simpler and convenient operation and form factor, and priced below its other cameras, the Session capture device is more likely to appeal to a broader range of consumers.
GoPro is more than a camera company
When asked why GoPro refers to itself as a capture company instead of a camera company, Born said this differentiation is essential.
The cameras may be what GoPro makes, but what the company does is different.
"It's really all about the experiences and the content that the cameras enable," Born said. "Because the experiences and content that people are able to share is the content that's lighting up YouTube. ... That's what it's all about. That's what keeps GoPro interesting."
To capitalize on the content GoPro is enabling, the company is attempting to monetize it. GoPro President Tony Bates explained this initiative during the company's second-quarter earnings call.
GoPro content has the potential to generate additional revenue streams overtime. Yesterday, we unveiled GoPro Licensing, a content licensing portal that marketing professionals can use to search, sort and license content from GoPro's rapidly growing library. The tool also offers an opportunity for our vast community of GoPro contributors, including athletes, musicians, professionals, and consumers, to earn money and rewards for their content.
While comments from GoPro management should be taken with a grain of salt, both of these insights -- GoPro's growing audience and its angle of thinking of itself as a capture company as opposed to a camera company -- are points investors should understand about the company. Going forward, GoPro's audience will likely continue to broaden and management looks set on continuing to pursue ways to solidify itself as a content company.
For investors interested in GoPro stock, the full recording of the interview is worth listening to. A recording of the interview can be found on the company's Events & Presentations page.