LatAm gaming market is booming, and is expected to increase 10.3% compared to last year, being the second region with the largest growing rate in the global gaming industry
In LatAm, 6 billion dollars are expected to be generated in gaming revenue by 2020 and can reach up to 8 billion dollars by 2023, according to a research conducted by Newzoo and published in the Brazilian website Bol. The research encompasses games for mobiles and computers. The sector is expected to grow 10.3% compared to 2019, being placed only behind the region that encompasses parts of Middle East and Africa.
The report highlights that lockdown measures applied due to the pandemic has helped the expansion of online games in Latin American, and the region promises to reach 266 million online players this year, representing then 10% of the total global players. Given the current Covid-19 measures, people as staying at home more, consequently playing more online games.
However, the report states that LatAm players do not spend as much money in online games as the North American continent does for example, as the prediction for North American region is about 40 billion dollars generated in revenue by 2020, jumping to 8.5% of increase compared to 2019.
According to Bol and Newzoo most of the players in Latin America and emerging markets, especially in the current circumstances, have been playing more on their mobiles. However, the monetisation system provided, 'free-to-play', has been making things a bit more difficult in terms of turning “players into payers”. It is expected that only 160 million players from the total of 266 million in Latin America will be paying for the games.
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