Research and Markets: GoPro Announce $105 Million Acquisition of Video Editing Apps Splice & Replay

Mar 01, 2016, 06:52 ET from Research and Markets

DUBLIN, March 1, 2016 /PRNewswire/ --

The global digital video content market is expected to grow at a CAGR of 15.43% over the period 2015-2019, according to a report published on Research and Markets. The increase in the number of smartphones and tablets has led to a considerable rise in the consumption of digital content. Camera manufacturer GoPro has announced it will acquire two mobile video editing companies in a deal worth $105 million, as it looks to boost its sales.

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The first company is Stupeflix, which makes Replay, an app that allows users to select clips and then combine them into a complete video. They have also purchased Vemory, who are responsible for developing Splice, an app which allows users to trim, crop and add effects. Both apps will remain on iOS and continue to move forward with Android releases, according to reports .

Another report forecast the global online video platform market to grow at a CAGR of 14.15% over the same period. It says the majority of vendors in the market have started offering analytics solutions that track the number of viewers at any given time, along with viewing rate, geographic distribution, and other real-time data.

The growing usage of digital devices has also resulted in an increased volume of video data either uploaded or downloaded on social network sites, which has led to an increase in privacy and security concerns. As a result, the global intelligent video analytics is expected to grow 32.47%.

GoPro's stock lost almost a third of its value this year after falling more than 70% in 2015.

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