Latin America and Video Games: Market Overview
From the top of Mexico to the edge of the Patagonia, every Latin American country has a rich cultural heritage and ancient traditions, and all of them are bound together by a common ancestor and history.
With the sole exception of Brazil, Spanish is the official tongue of the continent. There, it has been enriched with slang and variations that keep it alive and kicking. But language is not the only thing that’s blooming with life in the continent.
The region has a steady demographic growth, a thriving middle class and most economic analysts have a favorable look towards the economy: Latin America is a great place to invest for the near future.
This also applies to the gaming industry. The region is one of the fastest growing markets for digital products, particularly video games, with Argentina, Brazil and Mexico leading the race.
This three countries had about 4 billion dollars registered income for video games during 2017, which is roughly 20% more revenue than the year before.
The whole region is expected to have a Compound Annual Growth Rate of 11.4%, leading to a total revenue of about $6.29 billions by 2023 according to Netscribes’ 2018 report.
Although earnings from mobile, PC and console were almost equally shared during 2017, the tendency is shifting towards a dominance of the mobile market. Regardless of this dominance, release of new generation consoles might re-balance the scales in a few years.
Support for the developing markets comes not only from major studios, who have been setting headquarters and divisions in several LATAM countries, but also from government and private initiative. The industry has become increasingly organized since 2004 and they are now harvesting the fruits of their labor.
However, not everything is positive. The political landscape of the entire continent is constantly changing, and not always for the best. This brings inherent instability which more often that not will affect the markets.
The scope being so wide, not every country has the same issues and difficulties might vary from one place to the other, as every nation has unique challenges that might not arise in another: setting up in Latin America is definitely worth it, but it’s also definitely a challenge.
That’s why it’s important to start with the right foot: BizzTech’s online matchmaking events are the perfect opportunity to dip your toe in the waters with no traveling expenses or wasted time.
Thanks to the partnership with Carlos Estigarribia, from ABRA —the Brazilian association of Video Game Developers— BizzTech can help you start a conversation with the top deal makers in the continent!
For the next event, INDIE EMPOWERED | May 7/8 , we’ll have not only Carlos, but also Jane Whittaker from Blue Sock Studios, Vivy Zhao from ChangYou and Jon LLaguno from ESL Turtle Entertainment as our amazing mentors and judges for the ONLINE INDIE PITCH.