Omar Oakes
May 25, 2016

Red Bull buys equity in GoPro amid global content deal

Red Bull and GoPro are joining forces in a global partnership to produce content after the energy drink brand took out an equity stake in the camera maker.

Red Bull buys equity in GoPro amid global content deal
GoPro’s product and brand will have exclusive access to Red Bull’s 1,800 events across the world, while the companies will share content rights on co-productions. Content will be distributed across both Red Bull and GoPro’s online channels.
 
There will also be cross-promotion of brands, which means that GoPro’s audience is likely to see more marketing messaging for Red Bull, while Red Bull events will feature ads for GoPro cameras.
 
Red Bull did not say how much it is going to own in the camera maker, whose shares have declined 83% over the last year amid weakening sales. 
 
Nicholas Woodman, the chief executive and founder of GoPro, said: "Red Bull’s global scale and execution is something to be admired. This partnership is very strategic forGoPro.
 
"We share the same vision…to inspire the world to live a bigger life.  While we’ve worked closely for many years, as official partners we’ll be able to more effectively help one another execute our shared vision and scale our respective businesses. GoPro and Red Bull, as a match, are as good as it gets."
 
(This article first appeared on CampaignLive.co.uk)
Source:
Campaign India

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