Video Games in Latin America: a deeper look at Mexico
It’s quite clear that Latin America as a region is a great source of untapped potential for the video game industry. During 2017, Mexico, Brazil and Argentina alone had a combined income of about $4 billions. And it has done nothing but grow this past two years.
Mexico is a very interesting part of the equation. Its proximity to the USA, but also its cultural connection to the rest of the continent make it the ideal location for any company looking to set foot in the region.
The country itself is a peculiar market. With more than 127 million inhabitants, they have enough population to support local products. 55.8 of those 127 million people are gamers, which produced $1.6 billion revenue for the games market during 2018.
A large portion of that revenue belongs to mobile games, that have about 60% of the total market share. Also, more than 70% of the total paying users for all platforms have spent some amount of money on in-game items.
When it comes to the type of game, AAA titles rule the scene, which can make things a bit difficult for indie developers looking to break into the local scene. Local developers also have to face an additional level of difficulty: the apparent lack of interest from native population in “home made” products.
This doesn’t mean that Mexico is not producing anything wonderful. Although a little dated, “Kerbal Space Program” is possibly the best example of an amazing game put together by a local studio, (Monkey) Squad, located in Mexico City.
“Elliot Quest” an adventure/RPG where players explore the mysterious Urele Island in search of an ancient demon is another great sample of the local talent. Developed by Luis Zuno, it was the first local game to be simultaneously released for every platform available in 2014.
Most recently, “Tyr: Chains of Valhalla” — a 2D shooting platformer inspired by Norse mythology— won the 4th edition of the National Video Game Contest MX. The game was created by Ennui Studios, headquartered in Monterrey.
Another example of the importance of the Country when it comes to international projection is the rising number of dev focused events that are taking place every year. The top of the pyramid would be Unity Developer’s Day, displaying Unity’s support for the local community, that greatly favors the engine.
However, regardless of past growth, Mexico’s current political environment is a bit shaky and it still remains to be seen what type of influence will this new government have in future economical growth.
Changing political landscapes, a rich culture and a different language might be a bit challenging to overcome when opening business in the region, but the potential benefits absolutely justify the risk.
Risk can be minimized by taking advantage of the best tools available: Bizztech’s Online Matchmaking Events, where you can meet the top industry professionals with no traveling expenses!
Don’t miss the chance to connect with the top dealmakers in the Latin American Industry! Check out our next Event INDIE EMPOWERED LATIN AMERICA | May 7/8 and have some meetings that will set you up to a good start in one of the best places in the world, without having to leave your office!