GoPro (GPRO) Plans to Launch New Streaming Channel by 2023
GoPro Inc GPRO has collaborated with Roundtable Entertainment and Cinedigm to develop the GoPro Channel. The channel will be premiering by 2023 and will join Cinedigm's existing portfolio of more than 30 streaming channels.
Roundtable Entertainment and Cinedigm are both involved in the entertainment industry. Roundtable Entertainment is a multi-platform producer that specializes in creating and producing original content across different mediums, including TV, film and digital platforms.
Cinedigm, on the other hand, is a premier streaming company that operates a portfolio of more than 30 streaming channels spanning various content genres, such as movies, documentaries and lifestyle programming.
GoPro, Inc. Price and Consensus
GoPro, Inc. price-consensus-chart | GoPro, Inc. Quote
The GoPro Channel will offer original content chosen from GoPro's collection of sports and lifestyle movies. There will be both professionally made and user-generated content on the channel and the new series Roundtable created utilizing GoPro footage.
The channel will showcase a wide range of sports and adventure content, including various types of water, snow, air and motorsports, as well as biking, skating, fishing and nature and lifestyle programming.
GoPro's existing catalogue has generated over 3 billion views and 10 million subscribers on YouTube, per the company report. The new channel will be available as a FAST channel across different platforms, including connected TVs, mobile, web and other third-party platforms.
Overall, the collaboration will help GPRO expand its content catalogue to a vast audience and open up advertising opportunities that are likely to contribute to the top line.
Headquartered in San Mateo, CA, GoPro is one of the leading manufacturers of the world's most handy camera and enabler of some of today's most immersive and engaging content. GoPro shipped 797 million camera units during the third quarter of 2022.
The company continues to invest heavily in research and development to launch new products and enhance its existing product line. In November 2022, the company rolled out three new versions of its Hero11 Black camera, such as Hero 11 Black and HERO11 Black Creator Edition.
HERO11 Black Creator Edition camera is suitable for filmmaking, live streaming and vlogging. It has an ultra-lightweight design and includes an optional directional microphone.
GoPro has been expanding its footprint in emerging markets and is focused on scaling up its customer relationship management efforts. However, weakness in macroeconomic conditions, along with inflation and forex volatility, continue to be major concerns.
At present, GoPro has a Zacks Rank #3 (Hold). Shares of the company have lost 46.8% in the past year compared with the sub-industry’s decline of 33.7%.
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Stocks to Consider
Some better-ranked stocks from the broader consumer discretionary sector are RCI Hospitality RICK, Arista Networks ANET and Lululemon Athletica LULU. Arista currently sports a Zacks Rank #1 (Strong Buy), whereas RCI and Lululemon presently hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for RCI Hospitality’s 2023 earnings is pegged at $5.95 per share, up 2.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
RCI Hospitality’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 6.1%. Shares of RICK have increased 30.1% in the past year.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 0.9% in the past year.
The Zacks Consensus Estimate for Lululemon’s 2023 earnings is pegged at $9.94 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 20%.
Lululemon’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.7%. Shares of LULU have decreased 22.4% in the past year.
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