Special to NYSportsJournalism.com
May 24, 2016: In a deal that could have wide-reaching impact in the action/adventure sports category, Red Bull said it is " joining forces on a multi-year, global partnership" with GoPro that includes content production, distribution, cross-promotion and product innovation.
Under terms of the alliance, Red Bull receives an undisclosed amount of equity in GoPro.
Concurrently, GoPro becomes Red Bull's exclusive provider of "point-of-view imaging technology for capturing immersive footage" of Red Bull's media productions and events.
The two brands have been working together but said that this alliance takes the relationship to a new level.
"This partnership is very strategic for GoPro," Nicholas Woodman, founder and CEO for GoPro, said in a statement. "We share the same vision . . . to inspire the world to live a bigger life."
"Red Bull's global scale and execution is something to be admired. 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," said Woodman.
GoPro's product and brand will now have access to more than 1,800 Red Bull events across more than 100 countries. The companies will "share content rights on co-productions," and related content will be distributed across both Red Bull and GoPro's digital distribution networks.
That includes the GoPro Channel, Red Bull TV, Red Bull.com and in the Red Bull Content Pool, which is Red Bull's media service platform.
Red Bull energy drink available in more than 169 countries, supported by a multi-media campaign with the tag, "Red Bull Gives You Wings."
Red Bull Media House launched in 2007 and, according to the company, enabled Red Bull to "formalize its content offerings, from production and collection to distribution and turn it into a new business."
Red Bull Media House's portfolio includes "hundreds of social media channels," long- and short-form videos, still images, documentaries, feature films, music, games and mobile apps, The Red Bulletin and such digital platforms as RedBull.tv and RedBull.com.
The company also is majority owner of the MLS Red Bull New York team as well as the club's Red Bull Arena in New Jersey; and, among others, is involved with Red Bull Racing (Formula 1) and the Red Bull Air Race
According to Dietrich Mateschitz, founder and CEO of Red Bull, "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."
"GoPro and Red Bull, as a match, are as good as it gets," said Woodman.
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