GoPro's (NASDAQ:GPRO) line of HERO cameras are the go-to devices for capturing extreme sports, and the company has built up a strong brand that's become a household name.
But GoPro now wants to expand its offerings beyond camera sales. It will launch its Karma drone some time this year and is building out its GoPro Entertainment segment and GoPro Licensing service as well. The company hopes these new initiatives can start bringing in additional money, especially as its revenue recently plummeted 31% year over year.
Click through the slideshow below to find out more about how GoPro makes money and how the company is expanding its business.
Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends GoPro. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.