GoPro has reason to celebrate, as shares of the company’s stock rose 1.23% and revenue for their second fiscal quarter increased by 72%. The company is looking to build upon this momentum with ambitious new initiatives: GoPro has a mobile video editing app in the pipeline, and it’s also launching a content licensing portal that helps GoPro users monetize the content they create.
According to TechCrunch, GoPro President Tony Bates announced the company is building an app that will enable users to edit high-quality video directly from smartphones and tablets. The application is apparently on the edge of release, with Bates noting that it is “in the final phases of development and testing”, and is planned to launch by the end of summer.
Possibly even more exciting is the company’s new content licensing portal that plans to allow video professionals market their work to prospective buyers. The service enables advertising agencies to quickly find the content they need while creating revenue for GoPro shooters. Those interested in the new licensing portal will first need to apply before being granted admittance.
GoPro has noted that only approved agencies will be “permitted to access and license content” from the service and that web-based reporting will ensure “license request tracking.” Media companies interested in using content will be able to search and filter content based on rich metadata and preview clips protected by watermarks.
TechCrunch writes that at this time, “there are 572 videos available – 8 are available in 4k,” and that “videos start at $1,000 apiece and the term of the license is six months.”
GoPro wants to be much more than a manufacturer of video recording hardware; they wish to be the focal-point for high-quality content creation and distribution.