GoPro will be expanding its camera lineup over the next year, adding two more models alongside its current Hero and Max cameras. According to Nick Woodman, the company's founder and CEO, who was speaking during the company's earnings call on Thursday, GoPro aims to offer more specialized cameras while still using much of the same technology.
GoPro used to have several models in its Hero line, from the white, silver, and black camera models like the Hero 3 and 7 to the non-display session cameras on the back. However, since the launch of the Hero 8, only flagship models have been released, choosing to sell older flagships rather than introduce lower-spec but still current-gen cameras.
More models does not necessarily mean a return to what the company describes as a "good/better/better" business model. Woodman said the company's previous model involved making several camera models, all of which attracted the same types of buyers. His new plan is to work on specialized cameras that "target very different user groups" than Hero and Max, he said.
Woodman also talked about looking more closely at the pro market, saying GoPro didn't just want to make a "Swiss Army Knife" that's right for everyone. He also wants to create "premium solutions" (or really good knives) that fit specific use cases and focus on people who might need more than GoPro's Hero and 360-degree cameras can currently offer.
Woodman knew that new additions to the lineup would continue to be based on the technology GoPro uses today, even if they were built for different purposes (the cameras were called "derivatives"). He makes sense for GoPro to go down this path rather than create entirely new technology: It allows the company to make new cameras more cheaply and puts a premium on its custom chips that power its existing cameras. GoPro also said its roadmap includes "new cloud capabilities and an entirely new subscription-based desktop app."
