GoPro has recently developed its own licensing portal that enables others to purchase footage from GoPro’s registered ‘creators’.
In what seems to be an outstanding move forward for the company, it follows in the footsteps of companies like Flikr and 500px. The way the system will work is that users apply for registration through the portal and if they are approved, are allowed to either generate footage to be uploaded, or purchase footage for their own use.
In recent times GoPro has been having difficulties innovating new camera products to gain a competitive advantage, however, this new area of business will create an entirely different complexion for the company.
A GoPro spokesperson told Engadget that their “priority is to get money back into the hands of [its] athletes and [its] community”.
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While GoPro take an undisclosed cut from each transaction made through the portal, money going back to filmmakers and photographers will give them a greater sense of professionalism. An amateur photographer is far more likely to be motivated to produce quality content when they know they can show the world their work.
On the other side of the bargain, advertising companies, for example, will be able to save time and resources by purchasing online content as opposed to going out and spending money on producing the footage themselves.
From a business standpoint, GoPro have done something very similar to what they did in 2002 by being the first to manufacture such high-definition cameras at such affordable prices.
Although companies like Flickr and 500px have forged similar products, GoPro will be the first to use film footage instead of photos.
The new innovation generates a much brighter future for GoPro than it once had. In light of the announcement, there have been suggestions that the company should pursue this form of business from here on out, focusing less on their cameras.
With the GoPro camera turning into a mere accessory, the business could leave their competitors behind and begin to create a brand new industry for filmmakers. There is no doubt that the idea will gather a large following, not only from the content creators, but businesses looking to spend less time on production and more time on ideas.