GoPro (NASDAQ: GPRO) has had trouble growing beyond its core action camera product for years, but it may be gaining some footing as a more niche brand. Cloud subscriptions have passed 1 million users, which should generate tens of millions of dollars in high-margin revenue each year, and now GoPro is leaning into the lifestyle brand market.
Unlike technology products like 360 cameras, drones, and even media editing software, lifestyle products take advantage of GoPro's brand presence and loyal customer base. And it could be a great way for the company to be the growth stock investors have hoped it would be for years.
Image source: GoPro.
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GoPro's Latest Growth Products May Pay Off This Time