Over time, there have been a handful of companies that became so synonymous with an entire product category that their brand names became instantly recognizable shorthand. Think Kleenex, or Xerox, or Band-Aid. Plenty of people say those words when they want to talk about facial tissues, photocopies, or adhesive bandages—regardless of what brand any of the products they're referring to actually is.
In the category of action cameras, there's another name that rises to that level, and it's GoPro. Sure, the likes of DJI, Insta360, and others are offering stiff competition, but none of those names have risen to the level of category synonym yet.
And yet, despite achieving that level of name recognition, times haven't been kind to GoPro. 2024 was the roughest year yet, in fact. How bad is it? 2024 revenues were down 20 percent year-on-year, and came in at US $801M. This was due in no small part to a decrease in camera sales. Over the course of the year, GoPro sold just 2.4 million units across its entire range, as compared to 3 million in 2023. Finally, the company said, delays on the launch of its MAX2 360 camera (now expected to launch in 2025) also didn't help matters. In 2024, GoPro's paid subscription services grew, and retention of existing subscribers was also good—but those were the only rays of sunshine to be found in that report.
