GoPro wants your video. It might even pay for it.
Camera-maker GoPro said Wednesday that it will pay between $500 – $5,000 for photos and videos shot on its cameras and uploaded to its online portal.
The company said it will spend $5 million a year on the new initiative.
The uploaded videos can be used by GoPro for licensing out to others or for inclusion in its digital channels. Not all the videos uploaded will qualify for payment. The company did not specify how content will be chosen for compensation, and a spokesperson did not return a call for comment.
Adventure, wildlife and home videos captured with GoPro cameras and shared on social media have helped drive the company’s brand identity.
“GoPro has become synonymous with action cameras, similar to Roller Blades, similar to Kleenex and so forth,” said analyst Andrew Uerkwitz of Oppenheimer. But GoPro has seen a slowdown of online video uploads and shares. “Majority, if not all, of the social media metrics are showing a waning interest in GoPro,” Uerkwitz said.
The new financial incentive program may be an effort to counteract that trend, and to help build up the company’s video library as it seeks to build a YouTube-like business focused on action videos.
GoPro has a digital channel to distribute videos on platforms such as Roku and Xbox. “They’ll probably seed the channel with a lot of interesting content. Ultimately, I think they hope to advertise,” said Michael Pachter of Wedbush Securities.
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