In another positive development in the gaming industry, GoPro Inc. and Sony PlayStation have partnered to roll out the GoPro Channel on the PS4 and PS3 consoles.

Independent Reporter said this new application will enable users to stream GoPro video content right from their television sets, using the mentioned consoles.

With this new technology made available to the public, GoPro users can also easily watch their favorite videos and even shop for cameras and accessories on a large screen.

 "We want GoPro content and programming to be easily accessible on every platform where our millions of fans spend time," GoPro's director for distribution Jon Cohen was quoted by Independent Reporter as saying.

He added that the company was delighted with this new partnership.

"There's a sweet-spot of overlap between PlayStation's super-engaged audience and the GoPro audience and we're excited to welcome PlayStation to GoPro's expanding OTT family," Cohen added.

According to Ubergizmo, it's about time that GoPro becomes available on gaming consoles, since it has been part of various platforms like Xbox, Amazon Fire TV, Roku, Comcast Watchable, Sky, Vessel Entertainment, LG and Virgin America for a long time already.

Because of this delay, this PlayStation release comes with either The 66th Parallel or Iceland with Ben Brown.

Meanwhile, CNBC noted that the release of the GoPro channel is timely, considering the recent plunge of GoPro's stocks, which was estimated to have dived about 70 percent.

Some analysts claim that the price discounts on the HERO4 Session camera, which was released last July, are somewhat aiding in boosting the demand for the product.

CNBC said that the company has blamed the low sales of this new device to "poor consumer awareness," but financial services firm Morgan Stanley said the reason is that the way the device can share, store and edit content is not very user-friendly.

It was noted in a MarketWatch report that GoPro's stock climbed 1.5 percent on Tuesday after the GoPro Channel was unveiled.

The same report claimed that this is good news after the company's stock went down 46 percent for the past three months, with cheaper alternatives being made available on the market.

But CNBC claimed that GoPro is confident that it is still the "dominant player" in the market, with it expecting that the numbers could change drastically by next year with the release of a new camera and a drone.

The upcoming drone, as per The Verge, will be called "Karma" and will be a quadcopter with 4K filming capabilities.