GoPro announced it is teaming up with Red Bull in the form of an exclusive global partnership. Starting today, GoPro will be Red Bull’s exclusive provider of action cameras and content.
But the news isn’t entirely surprising. Over the years, GoPro and Red Bull have worked together on various projects, and GoPro cameras have been used in Red Bull-sponsored events. But it wasn’t until today that the two companies officially inked a far-reaching business deal.
The partnership is said to be multi-year, but no specific time frame has been given. As a result of this partnership, Red Bull will receive equity in the action cam manufacturer, while GoPro gets to officially slap its name on any and all point-of-view content for Red Bull.
This collaboration should come across as a no-brainer considering both companies’ targeted demographics are all but identical. Not only do they get access to each other’s marketing, they’ll also be able to piggy-back off each other’s distribution platforms, including The GoPro Channel, Red Bull TV, Red Bull.com, and the Red Bull Content Pool.
“This partnership is very strategic for GoPro” GoPro CEO, Nicholas Woodman, said in a statement. “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.”
Red Bull CEO Dietrich Mateschitz echoed the sentiments, saying, “First person perspectives, breathtaking images and cutting edge cinematography are the hallmarks of every story told within Red Bull’s portfolio of productions and live broadcasts… As partners, Red Bull and GoPro will amplify our collective international reach, the power of our content and ability to fascinate.”
Although we’re used to seeing the two brands work together up until now, it’ll be exciting to see what’s in store now that there’s an official and exclusive partnership.