GoPro reported that high demand for its latest action camera, the Hero9 Black, has pushed the number of paying GoPro subscribers past the 500,000 milestone. With the vast majority of consumers purchasing the new camera through the company’s website along with an annual paid GoPro subscription, which includes unlimited cloud storage for a user’s GoPro footage, the company, expects that it will exceed the previously targeted level of 600,000 to 700,000 paying subscribers by year-end. The high demand has also resulted in a 230 percent jump in sales through the GoPro.com website over the comparable two-week post-launch period in 2019, with growth in all regions around the world. At $50 a year, subscriptions have accounted for only a few percentage points in GoPro’s revenues, but the company is leveraging its membership program with discounts and other promotions, accelerating a transition from the wholesale channel to a more direct-to-consumer business model.
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