GoPro and Red Bull have signed a multi-year partnership that will see the two brands collaborate on content production and distribution, as well as on "product innovation," they said Tuesday. As part of the deal, Red Bull will receive equity in the action sports company, while GoPro will become the exclusive camera provider at Red Bull's media productions and events.

"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. "As partners, Red Bull and GoPro will amplify our collective international reach, the power of our content and ability to fascinate."

GoPro's action cameras will be used at the more than 1,800 sporting events sponsored by Red Bull in 100 countries. 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.