Once upon a time, a brand called GoPro entered the scene. It changed the game, as it pretty much pioneered what would eventually become the ubiquitous action camera. Pretty soon, folks shredding down mountains, diving into the ocean, or simply playing with their dogs at the park had a GoPro strapped onto them—and folks who didn’t wished they did.
That was more than a decade ago, and now, new players like DJI and Insta360 have all but stolen the show. These brands flex sleek, feature-rich cameras, and have undeniably given GoPro a serious run for its money. They brought innovations like 360-degree recording, user-friendly editing apps, and improved performance leaving GoPro looking a bit, well, stuck in the past. Fast forward to today, it’s more than likely that GoPro is no longer on the top of your list when it comes to action cameras.
Indeed, the numbers don’t lie. GoPro’s stock price plummeted by a stunning 97 percent since its peak. In 2024, it announced multiple rounds of layoffs, cutting more than a quarter of its workforce. Clearly, the market is saturated, and GoPro’s attempts at diversification (don’t get me started on its drone debacle) haven’t really taken off (pun intended).
So yeah, that explains its dwindling revenue and shrinking presence in an otherwise growing tech market.
