In the nascent category of action sports cameras, GoPro dwarfs its competitors with a huge market share and an army of diehard brand loyalists. In fact, GoPro sales have more than doubled every year since the camera’s debut in 2004, with the brand moving 2.3 million units in 2012.
We see trouble on the horizon however. GoPro’s core customer base is extreme sports enthusiasts. There are only so many extreme sports enthusiasts in the U.S. – by our count (using Simmons National Consumer Survey), only about 14 million. Furthermore, the excessive sharing of GoPro videos online has led some to believe their feats weren’t “cool enough to capture,” or merit buying a GoPro for that matter, creating a schism in the market.
GoPro CEO Nick Woodman has acknowledged this too. In 2012 Woodman announced his vision to make GoPro the go-to device for capturing “life’s precious moments.” The first ripples of this were felt during Superbowl 2013 with the company’s “Dubstep Baby” commercial, featuring a child with a GoPro strapped to him being tossed up and down by his father. Should GoPro turn its back on its millions of loyal fans and core values of extreme ruggedness in order to chase sales? We would like to offer an alternative solution: GoPro Quests.