Tomahawk, WI 08/28/2014 (Basicsmedia) – GoPro Inc. (NASDAQ:GPRO) is already in the holiday season mode with a line of products it hopes will accelerate growth according to Dougherty & Co Senior Research analyst Charlie Anderson in an interview on CNBC.
Having visited a number of stores in San Francisco, Anderson was quick to point out that GoPro is primed to enjoy impressive sales in the second half of the year. Some of the stores that Mr. Anderson visited had their most expensive cameras out of stock as more people make a rush for GoPro products.
Anderson believes that GoPro Inc. (NASDAQ:GPRO) is set to take full advantage of the accessories market with its new displays reportedly occupying twice the shelf space for accessories in some of the stores.
“You think the gift buyer would buy the cheaper product but what we saw, was the $400 version, the $300 version were sold out. The other thing that was also interesting they are basically having twice the shelf space for their accessories that GoPro is […] That will be good for them over the holiday season, as well,” said Mr. Anderson.
Expanding into the content media platform looks set to be the next big play for GoPro Inc. (NASDAQ:GPRO). The company’s YouTube channel already commands huge following of up to 700,000 people.
“We just don’t know the monetization strategy yet, that’s the main thing it’s a strong YouTube channel strong Instagram number of users. I think part of their ambitions is to have their own television series potentially one day with some other contents,” said Mr. Anderson.
Despite experiencing huge success on the camera side of the business, GoPro is also providing a number of computer software and mobile apps that are used to accelerate the posting of photos and videos on social network platforms.
GoPro Inc. (NASDAQ:GPRO) latest product, ‘Fetch,’ a camera developed for dogs is expected to be another big hit entering the holiday season that the company is hoping to cash on.