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Mexico. The Video Game Industry is in a phase of radical transformation, which has been reflected in a radical change both in the way of playing, as well as in the means of access, business models and companies that participate in it.
Market Value in Mexico
During 2018, the value of this market in Mexico was $27,032 million pesos (mdp.), a figure that represents an annual growth of 9.1%, derived from the relative stability of prices that was accompanied by an increase in the number of players.
Within this amount, a proportion of 85.9% or $23,220 million pesos, were generated by the sale of traditional consoles, of which $12,408 million pesos came from the sale of games and $10,813 million pesos. of hardware.
Additionally, 8.2% of revenues are generated by mobile devices and 5.9% by the sale of computer games (considering exclusively the expenditure on software within these last two cases). Thus, it is possible to identify that the sale of physical consoles is still a relevant component of income, generating 4 out of 10 pesos of the total industry.
Internet Access: Transformation Factor
On the other hand, the increasing access and use of the internet has modified and continues to modify this form of entertainment. In this regard, it highlights that currently 70% of fixed console players connect to the internet at the time of playing. Among these, 2 out of 3 do so to interact with other people remotely, while 17% download free or paid games.
Consequently, innovation has also been reflected in the business models of this industry, which outlines a migration towards payment schemes within the game interface (in-app purchases). In this sense, 24.0% of fixed console users and 12.7% of Smartphone players make purchases of this type during their gaming session; another fact made possible by the propagation of virtual platforms.
The latter implies that the sale of cartridges or physical discs has begun to be left behind to give rise to the sale or digital access of games.
Another new trend generated through the incorporation of the internet within this industry is the conformation of eSports, video game competitions that have had a very important follow-up and growth worldwide. In Mexico, gaming tournaments are beginning to gain relevance, since during 2018, 9.0% of players have competed in a video game tournament. Likewise, 10.6% watch video game channels via the web and 4.8% attend tournaments as a spectator.
Digital Platforms: Future of the Video Game
This industry has been characterized by being in constant change. The gradual incorporation of the internet in the form of access and gaming experience warns of a new (un)expected change in this. The recent announcement of Google's Stadia services and Apple Arcade, platforms that do not require the purchase of specialized video game hardware, makes it clear that the next announcements and generations of consoles will be focused on the digital world. As has happened in other entertainment markets such as music or audiovisual content, it will encourage industry players to quickly adjust to the new gaming conditions to maintain their relevance and market positioning.
Text written by Santiago Piedras of The Competitive Intelligence Unit.
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