*By Chloe Aiello* Under pressures from a slowing demand and the U.S.-China trade war, GoPro is doubling down on its core audience and engaging its existing customer base with contests and rewards. On Friday, the camera company announced the results of its HERO7 Black Million Dollar Challenge ー and published [a two-minute reel](https://www.youtube.com/watch?v=Prt-G4cPIn4) of user-generated content, made up of footage from 56 winners. Each winner was awarded just more than $17,500 for their submission. "Typically, our internal media team goes and shoots our highlight reel ー they're professionals and they know how to go out and get the right shot," GoPro CEO Nick Woodman told Cheddar on Friday. "But to really prove how easy HERO7 Black makes it to get stunning footage, we asked our customers to do it ... the resulting video is insane, and I don't think we're going to shoot a highlight reel again internally when our customers can do such an amazing job doing it." The contest comes just days after GoPro announced it would migrate much of its U.S.-bound production out of China by summer 2019. International-bound production will remain in China. The company [said in a statement](https://investor.gopro.com/press-releases/press-release-details/2018/GoPro-Plans-To-Move-US-Bound-Camera-Production-Out-Of-China/default.aspx) the move would "mitigate the potential impact of inclusion on any new tariff lists." Woodman elaborated on Friday, explaining tariffs are "not currently impacting our business but the concern of that happening served as a catalyst for us to consider new approaches to our supply chain ... We determined that tariff or no tariff, there are opportunities for us to produce our products more efficiently." Tariff concerns cast a shadow on an already-gloomy few years for GoPro. The camera-maker has seen three consecutive years of declining stock value and revenue, [The Street reported](https://www.thestreet.com/story/13978102/1/gopro-s-revenue-fuels-concerns-of-market-saturation.html), which Oppenheimer analysts once theorized could be related to a "shrinking addressable market." But rather than switch up the business model or diversify, GoPro is embracing its core audience of highly active adventurers. Woodman said he thinks there is still a large, untapped market. "In the total addressable market that we've identified, we only actually have a little bit more than 50 percent awareness of GoPro among those consumers," he said. "So rather than try to go broad and try to get into different industries, we are more focused on doing a better job of driving awareness and super-serving customers around the world that could benefit from the solutions we provide." GoPro is projecting a return to profitability in its holiday quarter and second half of the year, bolstered by the Hero7, which had a strong September launch that boosted shares 12 percent in the days that followed. Shares rallied 12 percent in the days after it debuted. "We're proving that there's significant demand for our products when we've got exciting new products at the right price point," Woodman said. For full interview [click here](https://cheddar.com/videos/gopro-hands-out-1-million-for-crowd-sourced-highlight-reel).

Share:
More In Business
Lindsay Lohan, Jake Paul Among Slew of Celebrities to Settle With SEC in Crypto Case
Actress Lindsay Lohan appears at the Christian Siriano Fall/Winter 2023 fashion show in New York, Feb. 9, 2023. The Securities and Exchange Commission said Wednesday, March 22, that Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims that they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so.
The Day Ahead: TikTok CEO on Capitol Hill, More Earnings
Cheddar News breaks down what to look for on The Day Ahead, as TikTok CEO is scheduled to testify before Congress on Thursday while earnings from General Mills and Darden Restaurants are on tap. Residential sales data for February is also scheduled to be released.
Jack Daniels Trademark Lawsuit Against Dog Toy Company Heads to Supreme Court
Jack Daniels was at the U.S. Supreme Court today. The whiskey-makers argued that a dog toy company violated federal trademark law with a product that parodies the distiller's iconic bottle. The toy is the Bad Spaniels Silly Squeaker toy by VIP products. The first amendment case pits the rights of a famous trademark holder against parody products. Jack Daniel says the toy damages its reputation, especially the references to dog poop.
White Claw Announces Branded Vodka
Alcohol brand White Claw is moving into spirits amid an industrywide shift away from hard seltzers. The spiked seltzer brand announced a new line of regular and flavored White Claw premium vodkas. The bottles are available in select markets across North America and come in an unflavored option as well as pineapple mango and black cherry white Claw has dominated the Heart Seltzer market for years. Now bringing the category into the mainstream as more consumers sought those low calorie alcohol drinks.
Load More