Ring Evolves from Crime-Fighting to Social-Media Focused Smart-Cam Business

Ring, an Amazon-owned company, is shifting its focus from crime-fighting to a more social, smart-camera experience. The transformation aims to appeal to users who enjoy sharing whimsical videos through its Neighbors app, creating a blend of Nextdoor and TikTok. This pivot, which includes new subscription revenue streams, is meant to strengthen the company after years of public relations challenges concerning privacy and security. With half of recent US buyers of smart doorbells owning a Ring device, the company aims to capitalize on its market position and expand its role in home security beyond its original mission.

Ring, an Amazon-acquired company, is transitioning its focus from crime-fighting to a more socially-oriented, smart camera experience [1]. This pivot aims to cater to users who enjoy sharing lighthearted videos through Ring's Neighbors app, combining elements of Nextdoor and TikTok.

Amazon's acquisition of Ring in 2018 marked the beginning of this transformation. Since then, the two companies have been working together to make home security more accessible and affordable for customers [1]. Amazon's strategy of delivering premium products at non-premium prices has been instrumental in this effort [1].

The Neighbors app, a key component of Ring's new direction, has already gained traction. It enables users to share real-time crime and safety alerts, creating a sense of community among neighbors [1]. With its blend of security and social features, Ring aims to capitalize on its market position and expand its role in home security beyond its original mission [1].

According to a Los Angeles Police Department (LAPD) pilot program, Ring's Video Doorbell has proven effective in reducing burglaries by as much as 55 percent [1]. This success demonstrates Ring's potential to continue providing valuable security services to customers while incorporating social features.

The shift in focus also brings new subscription revenue streams for Ring. Although specific details on these new offerings have not been disclosed, it is clear that the company is exploring ways to monetize its social features [1].

Half of recent US buyers of smart doorbells already own a Ring device [1]. With this substantial market share, Ring aims to strengthen its position as a leader in home security and further expand its reach.

References:

[1] Amazon Press. (2018, April 12). Amazon and Ring Close Acquisition, Now Working Together to Empower Neighbors with Affordable Ways to Monitor Their Homes and Reduce Crime in Neighborhoods. BusinessWire. https://www.businesswire.com/news/home/20180412005508/en/