. This article is commentary by an independent contributor. You are heading to %%DOMAIN%% please consider the following: Get 15% on Everything at Shutterstock: Subscriptions and Image packs! Red Bulls global scale and execution is something to be admired. "GoPro and Red Bull Companies' Strategic Alliance." "We share the same visionto inspire the world to live a bigger life. Insight: Branding nerd delves into Red Bull and GoPro, a brand partnership that has defined the meaning of Co-marketing excellence. GoPro, HERO and their respective logos are trademarks or registered trademarks of GoPro, Inc. in the United States and other countries. GoPro and Red Bull reached a multi-year partnership in May, and three months later the next phase of their partnership is underway. In a major relief to action camera maker GoPro, Inc. (GPRO), shares of the company surged 4.9% to $9.71 following the news of the signing of a multi-year global partnership with European energy . GoPro, HERO and their respective logos are trademarks or registered trademarks of GoPro, Inc. in the United States and other countries. "GoPro and Red Bull Companies' Strategic Alliance." Again, with very few cans of Red Bull in sight. The two companies have also registered increased revenues due to more acquired market shares brought by the alliance. In the case of Red Bull and GoPro, their tie-up is an example of co-marketing and not co-branding, since their partnership did not result in a new product or service. I focus on providing knowledge and solutions for buyers, contributors and agencies, aiming at contributing to the growth and development of the industry. Today, we're excited to announce the next phase of our partnership: the launch of The GoPro Channel on Red Bull TV. In its launch video, it is very clear why these two seemingly unrelated brands have decided to enter into this global co-marketing partnership (play video below): In a joint press release during the partnerships launch back in May 2016, the Founders x CEOs of both GoPro and Red Bull had this to say: Red Bulls global scale and execution is something to be admired. By joinning strengths, these two big brands expect to boost up the quality and global reach of their content and products. GoPro's product and brand will have access to more than 1800 Red Bull events across more than 100 countries, the companies will share content rights on co-productions, and related content. As an official Red Bull Racing Team Supplier, GoPro will work together with the team to produce specific F1 content for both digital and social channels as well as content features around our filming days, driver activations and our unique live demos where we take our F1 car to fans across the globe. This partnership is very strategic for GoPro,, First person perspectives, breathtaking images and cutting edge cinematography are the hallmarks of every story told within Red Bulls 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., adobo Talks x Branding Nerd: THE BRAND ARCHITECTURE | What it Takes to Build a Brand That Lasts, Gojek: A Brand with a Clear Focus to Remove Friction From PeoplesLives, Netflix: A Brand that Secured Global Market Leadership through ProductEvolution, Red Bull and GoPro: A Brand Partnership that has Defined the Meaning of Co-MarketingExcellence, Sperry: An 86-year old Boat Shoe Brand Connecting with Todays Youth Through Micro-Influencers and Co-Branding Branding Nerd, LifeWearMagazine: How Uniqlos Promotional Strategy Became a Brand in Itself Branding Nerd, Swatch: Re-Booting the Brands Playful & Collectible Positioning to Attract New Market Segments via Co-Branding with Omega Branding Nerd, Brand partnerships types and activities - content, Brand partnership strategy: Brand partnerships types and activities, Maximum Vertical Speed 1,357.6 km/h (At Mach 1.25, Baumgartner broke the sound barrieron his descent, becoming the first human to do so without any form of engine power. Available on Mac + Windows, High-def 1080p webcam. Red Bull Media House's portfolio includes today hundreds of social media channels, long and short form videos, still images, documentaries, feature films, music, games and mobile apps, as well as print Great shot from the Severne Windsurfing and @starboard photo shooting GoPro Red Bull @Starboard Windsurfing Severne Windsurfing Wings . The camera company's stock surged 7% after the announcement of the Red Bull partnership, leading some to theorize that this could be the floor of GoPro's stock price. As part of the agreement, Red Bull will receive equity in GoPro . As an umbrella brand, we offer a wide range of media products and premium. Red Bull has been making a dent in Elitest and Extreme sports from Formula 1 to Red Bull Cliff Diving. There is a partnership business between GoPro and Red Bull. /* Style Definitions */ Based on 2930 salaries posted anonymously by Red Bull Partnership Manager employees in Seaham. In January, GoPro signed a video partnership with Alphabet 's YouTube, renewed a partnership deal with the NHL, and inked a live-streaming deal with Periscope, a company owned by Twitter. GoPro and Red Bull Companies' Strategic Alliance. Critics have suggested that GoPro's cameras were part of a fad and that the company's products would not generate long-term demand. All other trademarks are the property of their respective owners. In marketing parlance, this is also referred to as co-marketing. Red Bull and GoPro entered into the strategic partnership in 2016. The two companies will share content rights to the footage captured at these events and distribute it on both Red Bull and GoPro's digital distribution networks, including the GoPro Channel, Red Bull TV and the Red Bull website. Adobe Magazine. "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," Dietrich Mateschitz, founder and CEO of Red Bull, said in a joint press release. The partnership will see GoPro's action cameras used at the more than 1,800 sporting events sponsored by Red Bull. The equity form of alliance is also involved in the partnership where Red Bull received the equity in GoPro and GoPro became an exclusive partner to provide the Point-of-view imaging technology for capturing Red Bulls media production and events. A successful strategic partnership gives a company a competitive advantage, a chance to enter new markets and be innovative. BusinessEssay. Based on 2930 salaries posted anonymously by Red Bull Partnership Manager employees in Godalming. A strategic alliance is an arrangement between two companies to perform a mutually beneficial project without losing their independence as a business. Change). Its adjusted EBITDA for Q1 2021 was positive $11 million, compared to negative $41 million in the same period a year ago during the height of the global pandemic. 2011 - 2023 Stock Photo Secrets - A Stock Photo Press Online-Magazine. Available on Mac + Windows, High-def 1080p webcam. There are various strategic alliances, but an alliances success or failure depends on business compatibility and the ventured market. (2023) 'GoPro and Red Bull Companies' Strategic Alliance'. { Footshop. LinkedIn User. Brands, Inc., also the owner of KFC, Pizza Hut and other leading restaurant brands. This is how spectacular the new partnership looks: Motocross star Ronnie Renner is filmed with a GoPro camera from the first person perspective. Although this partnership will not have a direct impact on Red Bull's exclusive distribution deal with microstock agency Shutterstock since last year, it does prove that point-of-view action footage is more and more popular in the market, and that companies are thriving to exploit this niche. The new partnership will also see the pair collaborate on the launch of Oracle Red Bull Racing Esports, a new competitive gaming team that will use OCI-powered analytics to optimise car set. Strategic alliances preserve the independence and autonomy of each organization, allowing each to focus on its own objectives while working together for a common goal. This partnership is very strategic for GoPro," said Nicholas Woodman, founder and CEO of GoPro. The launch of Red Bull Media House in 2007 enabled Red Bull to formalize its content offerings, from production and collection to distribution and turn it into a new business. They set specific objectives and goals, developed and maintained competency, blocked competitive threats, developed strategies, and mitigated business risks (Dhir & Sushil, 2019). GoPro, on the other hand, earns from investing in Red Bull. This button displays the currently selected search type. It has been five years since the alliance was formed; thus, it indicates business success. But before we talk about these brands, lets understand the concept of co-marketing, as well as the related concept of co-branding. span.prnews_span The strategic partnership between GoPro and Red Bull has grown successfully for five years because they have put the five components of success in place. Get a 15% off on Shutterstock's mixed-asset subscriptions to download stock images, stock videos, and stock music at once! And Red Bull will get shares in GoPro too. Shortly after the launch of the partnership Reuters reported: Shares of GoPro IncGPRO.Ogot a lift on Tuesday after the struggling action camera maker said it was partnering with extreme sports sponsor Red Bull in a marketing and promotion deal. These two brilliant brands teach us some key lessons on co-marketing, including: This joint educational program between Branding Nerd and adobo magazine dubbed adobo Talks x Branding Nerd: THE BRAND ARCHITECTURE | What it Takes to Build a Brand That Lasts is a foundational course on Branding which will set you up for success in building the brand/s of you company or organization. Shutterstock Coupon Code: 15% OFF sitewide, The Honest Guide to Selling Photos Online, GoPro and Red Bullannounced their new global partnership. Your best shots in one spot. But that's unlikely to generate wider growth. It is to inspire the world to live a bigger life. Energy drink maker/lifestyle brand Red Bull is tying the knot with GoPro: GoPro's cameras will exclusively be used to capture . Based on 2 salaries posted anonymously by Red Bull Partnership Manager employees in Kidderminster. Both brands convey the sense of adventure, spontaneousness and they create a perfect duo for a adventurers, travelers who carry cameras to capture the moments in the way. When expanded it provides a list of search options that will switch the search inputs to match the current selection. GoPro and Red Bull: The Perfect Marketing Partnership? At the time of publication, the author held positions in Alphabet, Microsoft and Twitter. According to Lim (2019), an excellent strategic alliance can bring a business more revenue. This comes as GoPro looks to rebound after dropping nearly 90% of its share price over the past 20 months. GoPro and Red Bull say they have worked together for some time. Cameras from the GoPro families are predominantly used for sports such as running, biking, skateboarding, and climbing, but their accessory range makes it possible to use your camera for various activities and capture unique shots. GoPro and Red Bull go together like red dirt and Rampage. In. Two (or more) great minds are always better than one! The GoPro Channel will feature new clips and legendary videos from these arenas, and many more. Your best shots in one spot. Prague, The Capital, Czech Republic. GoPro continues to cover the Red Bulls ability to have wings as they introduce new features of their cameras. Sharing a similar vision, the companys compatibility was easy as they needed to combine to meet each others needs. Click here to see how easy it is to collect thousands of dollars in "Free Money" every month. Two companies that are so distinct from each other yet share some traits, showing symbiosis. Kudos to you, A relationship between two companies that synergize in a healthy way and bring each other to great heights. GoPro sells more cameras than energy drinks, whereas Red Bull sells more drinks than anything else. "We share the same visionto inspire the world to live a bigger life. When expanded it provides a list of search options that will switch the search inputs to match the current selection. (2019). Each brand in such a strategic alliance contributes its own identity to create a melded brand with the help of unique logos, brand identifiers, and color schemes. Red Bull's recent high-profile agreements with such companies as Alphabet, Twitter and Microsoft have not given GoPro the boost it was seeking. Red Bull and GoPro share content rights on co-productions, and related content is distributed across both the Red Bull and GoPro digital distribution networks, including the GoPro Channel, Red Bull TV, Red Bull.com, and Red Bull Content Pool, Red Bulls media service platform. "GoPro and Red Bull Companies' Strategic Alliance." GoPros product and brand will have access to more than 1800 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 GoPros digital distribution networks, including The GoPro Channel, Red Bull TV, Red Bull.com and in the Red Bull Content Pool, Red Bulls media service platform. } Strategic alliances: An evaluation of the benefits for selected Zambian universities (Doctoral dissertation, The University of Zambia). It is common for businesses to establish strategic alliances in order to gain a competitive edge, expand their customer base, enhance product offerings, and grow. Others are not sure as the company reported revenues less than 50% of projections for last quarter. Designed to capture first-person views of athletes, their cameras capture the action from the athlete's perspective. Available on Mac + Windows, Two of the Worlds Strongest Brands Team Up to Cross-Promote and Innovate, GoPro to become Red Bulls exclusive Point-of-View Camera and Content Partner. Defining the digital marketing strategy for Red Bull TV in the UK. The GoPro Channel on Red Bull TV will also feature two of its acclaimed original series, Chasing El Nio with Chris Benchetler and Two Roads, as well as additional content exposing the intimate, never-before-seen perspectives of some of the worlds top adventure sport athletes: Authentic and immersive GoPro content has been synonymous with the Red Bull brand since the revolutionary cameras were first introduced in 2002. For instance, GoPro gained a massive audience by partnering with Red Bull, an already established and well-known brand. The two most unlikely international companies teamed up in 2016 to form a partnership where each business enjoys the benefits of the alliance. Derick Rhodes, Director of Footage Marketing at Shutterstock, explained us that the new GoPro deal doesn't have any direct impact in Shutterstock's licensing of Red Bull Media House footage. (LogOut/ It was announced in 2016 that GoPro and Red Bull had entered into a multi-year global partnership to produce, distribute, cross-promote, and innovate products. GoPro's product and the brand have access to 1800 Red Bull events happening across over 100 countries. Have a collective ownership which is giving a shared authority and sense of responsibility. Both brands' goals are similar. A collaborative venture alliance is formed by two businesses when they combine resources to create a new business (Russo & Cesarani, 2017). The combined media presence and combined opportunities for producing relevant content increases dramatically for both brands especially because the partnership provides new and fresh dimensions for building up the brands identity in the eyes of its target audience. The founder and CEO of GoPro, Nicholas Woodman, admitted to admiring the global execution and scale of Red Bull. I am passionate about technology, marketing and visual imagery. Red Bull and GoPro have informally been in cahoots for years, and today they are publicly declaring a relationship that's expanding in multiple ways. As the digital world enhances the need for capturing every moment, the alliance is expected to maintain success. buy Red Bull Media House footage (majority of them shot with GoPro camera) at Shutterstock! One iconic example of a mega successful co-branding initiative was the Doritos Los Tacos tie-up between PepsiCos popular snack Doritos and Yum! Delivered on weekdays. Early bird rates ends on August 16, 2021. Companies enter strategic alliances for various reasons, including accessing new markets, gaining a competitive advantage over rivals, and improving their products, among others. Red Bull enjoys this benefit and has exclusive access to the best action cameras in the market hence making their production a success. Do Not Sell or Share My Personal Information. And Red Bull founder and CEO Dietrich Mateschitz added: "As partners,. Co-branding, by design, is based on the creation of a new product or service., The GoPro x Red BullCo-Marketing Partnership. Two organizations form a strategic alliance when they pool their resources to achieve a mutually beneficial goal.
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