Shutterstock Flex Subscriptions Multimedia Downloads with 15% Off! The Fourth Phase will premiere October 2nd exclusively on Red Bull TV; but today, for three breathtaking minutes, viewers can walk in the shoes (or boots) of two world-class snowboarders as they capture behind-the-scenes footage from the deep backcountryabove and beyond what can be seen in the films official trailer. Brands fast-food chain Taco Bell originally launched on March 12, 2012 in a Taco Bell store in Toledo, Ohio. GoPro's product and the brand have access to 1800 Red Bull events happening across over 100 countries. The two businesses combined their efforts to create a global and multi-year partnership which included product innovation, production, cross-promotion, and distribution of their resources (GoPro, 2016). . { - Executing strategies and managing marketing campaigns across all communications platforms to ensure that brand and services meet customers' expectations and to build the credibility of the brand. RedBull sponsors a number of extreme sporting events and is one of the most popular energy drinks worldwide. The partnerships most viral video entitled Stratos which was launched in January 2014 has been viewed more than 23 million times on YouTube and features famous stuntman Felix Baumgartner jumping from a space pod more than 24 miles above Earths surface a truly out-of-this-world achievement for both Red Bull and GoPro. Red Bull and GoPro teamed up to produce content, distribute products, and innovate new ideas together. Last week, GoPro and Red Bullannounced their new global partnership. There are three types of strategic alliances, namely joint venture, equity, and non-equity strategic alliance. "GoPro and Red Bull Companies' Strategic Alliance." This partnership is very strategic for GoPro, said Nicholas Woodman, founder and CEO of GoPro. Puzzlement in Leadership can occur as everyone would keep their points in systematic way on board. Spice up your small talk with the latest tech news, products and reviews. Red Bull and GoPro entered into the strategic partnership in 2016. Very informative article. Based on 2930 salaries posted anonymously by Red Bull Partnership Manager employees in Godalming. For example, GoPro recently published an article on how to master the mode of Hero10 in videos and photo settings (GoPro, 2016). In the overall scheme of things with respect to brand architecture, co-marketing is really just a part of one pillar, which is promo, out of the six Ps of the marketing mix. We will be able to bring viewers closer to their favorite team than theyve ever been and tell the stories you dont usually get to see. We share the same visionto inspire the world to live a bigger life. By joinning strengths, these two big brands expect to boost up the quality and global reach of their content and products. Both parent firms maintain the new company by sharing resources and signing an agreement. Footshop. Average salary for Red Bull Partnership Manager in Seaham: 43,489. As Red Bull is already using the Go Pro technology for their filming , it does not seem that Red Bull will gain anything from this alliance. Deresky, H. (2013). When expanded it provides a list of search options that will switch the search inputs to match the current selection. There is a partnership business between GoPro and Red Bull. Red Bull's Vines are mini masterclasses in lo-fi innovation. Led commercial partnerships, business development, and new business acquisition team focused on strategic technology, product and media partnerships. But these deals did not involve the rights to insert GoPros as backup cameras, which would have made the most sense for a camera company. GoPro has serious issues that none of the above partnerships are going to solve. As the digital world enhances the need for capturing every moment, the alliance is expected to maintain success. "Joe was an absolutely fantastic mentor and offered me a lot of valuable guidance and skills about PR, media, marketing and communications. May 24, 2016, 9:00 AM. All other trademarks are the property of their respective owners. Available on Mac + Windows. By taking over Red Bull's production and imaging needs, GoPro has blocked its competitors against Red Bull as a customer (GoPro, 2016). 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. Amongst many successful partnerships in the market are GoPro and Red Bull partnership. Synergy is better than my way or your way. font-family:"Arial"; 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. Red Bull enjoys this benefit and has exclusive access to the best action cameras in the market hence making their production a success. 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. Its our way.. This partnership would be referred to. You can see the first episode here, of what will be a series of five videos released before the end of the year: If you're looking for great action/sports stock footage, buy Red Bull Media House footage (majority of them shot with GoPro camera) at Shutterstock! 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 will be distributed across both Red Bull and GoPro's digital distribution networks, including The GoPro Channel, Red Bull TV, Red Bull.com and in the Red Bull A collaborative venture alliance is formed by two businesses when they combine resources to create a new business (Russo & Cesarani, 2017). Their slogans 'Gives You Wings' and 'Be a Hero' of Red Bull and GoPro each provide insights into how their strategic partnership has succeeded. If you find the article helpful, please like, comment, and share it with your peers. . GoPro, HERO and their respective logos are trademarks or registered trademarks of GoPro, Inc. in the United States and other countries. Investopedia continues: Co-branding and co-marketing are similar concepts in that both involve partnerships between brands that seek to bolster their marketing efforts, but they differ in how they are executed. GoPro and Red Bull Companies' Strategic Alliance. As we know "Content is King", so is your article that determines the thoughtfulness in articulating the information concisely by depicting the strategic alliance in such a detail oriented way. /* Style Definitions */ Shutterstock has a wide audience and is perfect for anyone in need of high-quality licensed assets for their businesses and projects including creatives, designers, tech, start-ups, and SMB's, although it is perfectly suited for any other creative projects.#stock-search-form-1 button.stock-search__button{background-color:#e32124}#stock-search-form-1 button.stock-search__button:hover{background-color:#4e4e55}. A successful strategic partnership gives a company a competitive advantage, a chance to enter new markets and be innovative. SAN MATEO, Calif., May 24, 2016 /PRNewswire/ -- GoPro (NASDAQ:GPRO) and Red Bull today announced they are joining forces on a multi-year, global partnership that includes content production, distribution, cross-promotion and product innovation. GoPro and Red Bull reached a multi-year partnership in May, and three months later the next phase of their partnership is underway. Early bird rates ends on August 16, 2021. From extreme to mainstream, professional to consumer,GoProenables the world to capture and share its passion in the form of immersive and engaging content. Springer. GoPro was hoping that truck owners would then install a camera on the dash since the truck already had the mount. Average salary for Red Bull Partnership Manager in Godalming: 43,489. 3. GoPro and Red Bull, as a match, are as good as it gets. True to the first quote in the post! These objectives range from increased brand awareness, recognition and credibility, to lead generation, sales and business growth. Change). 2011 - 2023 Stock Photo Secrets - A Stock Photo Press Online-Magazine. Strategic alliance management. Wheel Pros, GoPro, Ski-Doo and Dakine are also Tour partners this season. Saturday, March 4-Friday March 10: Aprs DJ Sessions Presented by Red Bull at Rockford Patio, Revelstoke Mountain Resort, 2:30pm-5:30pm PT. ", "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," said Dietrich Mateschitz, founder and CEO of Red Bull. While weve worked closely for many years, as official partners well be able to more effectively help one another execute our shared vision and scale our respective businesses. GoPro, HERO, Omni, Odyssey, Kolor, HEROcast, Autopano, and their respective logos are trademarks or registered trademarks ofGoPro, Inc.inthe United Statesand other countries. The equity-based partnership between GoPro and Red Bull does not involve investing together. Ramadan, Z. According to Deresky (2013), alliances require five key components to be successful. But that's unlikely to generate wider growth. The world's top seller of caffeinated energy drinks, Red Bull is a major sponsor of automobile racing, BMX, skateboarding and other sports in which athletes widely use GoPro's devices to record their often extreme accomplishments, according to Reuters. Available on iOS + Android, Pro stabilization + 360. I am the founder and editor of Stock Photo Press, one of the largest networks of online magazines in the industry. (2023) 'GoPro and Red Bull Companies' Strategic Alliance'. Registration is now open for the early bird rate of more than 15% discount versus the regular rate. Slots are limited so it is good to register here early. GoPro. Available on iOS + Android, Pro stabilization + 360. According to GoPro (2016), Woodman mentioned the basis of their compatibility: GoPro and Red Bull share a vision of inspiring the world to live a considerable life. Since its foundation and the creation of an entire new category in the mid 80's, story telling is a part of Red Bull's DNA. Such elements include being tied to the core objectives and goals of the business, blocking competitive rivals, developing core competitive advantage, having strategic choices for the industry, and mitigating significant business risks.