GoPro Inc. GPRO recently disclosed the expansion of GoPro Channel to a new platform. With immediate effect, GoPro channel will be available on the PlayStation 4 and PlayStation 3 systems of Sony Corporation SNE.
Among the key features of GoPro Channel App for PlayStation systems, the users can access all the videos related to their favorite activities such as ski, surf and flight; and watch product videos and learn about new GoPro cameras and accessories. Notably, Sony joins GoPro's mounting distribution partners’ roster that comprises Amazon.com, Inc. AMZN and Comcast Corporation CMCSA.
GoPro has been aiming on leveraging the popularity of its GoPro Channel so as to fully actualize its transition to 'content maker’ from 'camera maker'. Riding on the growth trajectory, GoPro Channel surpassed one billion cumulative views and attained the position of the top brand channel on YouTube in October 2015.
In relation to that, in November, GoPro disclosed the expansion of its GoPro Channel upon European Soil through a Multichannel Video Programming Distributor (‘MVPD’) partnership with Europe's leading entertainment company, Sky. In particular, the deal entails the launch of GoPro Channel on Sky’s next-generation home entertainment system, SkyQ, which will be introduced in early 2016 across UK and Ireland. Such moves bode well for long-term growth.
However, troubled by certain issues in business, GoPro currently carries a Zacks Rank #4 (Sell). The company’s shares have been seeing a downward trend since August this year and are currently trading below its IPO price, mainly on concerns of stiff competition from other established market players. Also, GoPro reported weak third-quarter 2015 earnings, which were below expectations for the first time since its IPO. Also, the company presented a grim outlook for the holiday season, anticipating a 17% year-over-year decline in fourth-quarter revenues.
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