Revenue Growth Slows for GoPro

A very interesting graph out of Statista show’s GoPro, the leader in durable sporting cameras, is seeing a violent slowdown in revenue growth in 2015 compared over the past five years.
Infographic: GoPro Has Trouble Sustaining Its Growth | Statista
You will find more statistics at Statista

Although it’s alarming to see the such a drastic decline in growth, you need to look at how saturated the market actually is.  Initially when the product came out, it was a unique coveted powerful camera at a great price that’s meant to take a beating and can be mounted to almost everything.  Plus it’s a camera thats used by professionals, who don’t want to sacrifice an expensive camera, and consumers who are looking for an easy to use durable “disposable” camera.

GoPro Slows in Revenue Growth

What could be part of the slowdown in growth is the market is becoming saturated with both competitors and GoPro’s very on product.  Once a consumer owns a GoPro, the only reasons to buy a second is to:

  • Capture more angles
  • Replace a broken/lost camera
  • Upgrade to the latest and greatest

Outside of that the only other way to generate revenue is to appeal to a new market, sell accessories (which they do) or pivot and offer a new or different product. Not just an upgrade of the previous model unless you’re adding some serious features.  I’m not personally surprised to see the revenue growth slowdown when it comes to a non essential commodity like this.  What do you think? Are you surprised to see the slowdown in growth, or are you surprised it hasn’t happened sooner?

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