Energy drink maker/lifestyle brand Red Bull is tying the knot with GoPro: GoPro’s cameras will exclusively be used to capture footage at more that 1,800 Red Bull events in the next few years, both companies announced Tuesday.
Both companies will also share content rights on the resulting footage, and distribute it both via GoPro’s and Red Bull’s digital channels. There is also going to be some cross-promotion, which likely means that GoPro’s audience will see more plugs for the energy drink, and Red Bull events will feature advertising for GoPro’s cameras.
“This partnership is very strategic for GoPro,” said GoPro founder and CEO Nicholas Woodman in a statement Tuesday. And Red Bull founder and CEO Dietrich Mateschitz added: “As partners, Red Bull and GoPro will amplify our collective international reach, the power of our content and ability to fascinate.”
Perhaps most intriguing is that Red Bull will actually receive an equity stake in GoPro as part of the deal. It wasn’t immediately clear how much of GoPro the energy drink maker is going to own, but the action-cam maker can be relieved that at least someone is putting some trust into its stock: GoPro’s shares declined around 83 percent year-over year in light of weakening sales of its core camera products.