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Why GoPro Thinks Content Is King

NEW YORK (TheStreet) --Even though GoPro (GPRO - Get Report) makes the majority of its money selling cameras, the company sees itself as a content company and not as a hardware company.

"First and foremost we see ourselves as a content business. People have to be able to manage that content," said GoPro CEO Nick Woodman. "For GoPro to realize its full potential we have to continue to develop from a content capture base, but also to deliver  the content management."

Content is king for GoPro as is evident by the focus the company is placing on its upcoming content sharing app that is now in the latter stages of development, company executives said Tuesday at J.P. Morgan's 43rd Annual Global Technology, Media & Telecom Conference.

Woodman said the GoPro app will enable basic editing but make it very simple for the camera's users to share their video. This is done directly through the cloud eliminating the need for the user to touch and SD card or use cables. Once in the cloud the content can be access through any device with a GoPro account.

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Once everything is in place, Woodman believes GoPro will be viewed as a content company, not just a camera maker.

"The GoPro app is still in development. It is our version of 'iTunes' if you will. It is now in alpha testing by GoPro employees," Woodman said, adding that he believes GoPro cameras are now in the same place as the iPod was before iTunes was rolled out indicating that there will be a distinct difference in how the hardware will be viewed and accepted by consumers once the software is available.

While the app is being look on more as an ancillary offering now, it will be something the company can monetize at some point in the future, said CFO Jack Lazar. Meanwhile, the company expects the software's ability to easily share content, which Woodman admitted was a sticking point with some users now, will help attract even more customers to the brand.


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