In case you missed the news, Softbank has created a fund specifically for Latin America, aiming to invest over $ 2 billion in innovative companies in the region. They just announced the Innovation Fund’s first winner, Rappi, confirming a cool billion investment into the “deliver anything” mobile app.
The fund also aims to help SoftBank portfolio companies enter Latin America and grasp the emerging opportunities in the region.
“Latin America is on the cusp of becoming one of the most important economic regions in the world, and we anticipate significant growth in the decades ahead,” said chairman and chief executive officer of SBG, Masayoshi Son, in a recent statement.
The Softbank announcement is only the latest affirmation of what many experts have been announcing for some time. The region’s large population, rapidly growing middle class, and high rates of technological adoption mean that Latin America is poised to become an important opportunity, especially for mobile app gaming.
When Latin America is considered as a single cohesive unit (as the majority of the population speaks Spanish or Portuguese and has a generally similar cultural context), the sum of the region’s 2018 gaming revenue ranks just behind China, the United States, Japan, and Korea.
A recent report created by Newzoo and Headway shined a light on the emerging opportunities in LatAm. For instance, Newzoo data found that 50% of internet users in Brazil play Mobile Gaming Apps. And mobile gaming claims 40% of the country’s $ 1.45 billion annual gaming industry revenues. Additionally, Mexico rakes in $ 1.58 billion annually, with 38% going to the mobile market (an 18% increase compared to 2017). But all this is just a snapshot. The details are actually even more interesting.
The co-created report provides a country by country breakdown of demographics and in-game purchases, as well as strategic market insight from the CRO at Etermax, Guido Farji, and Headway’s Head of Growth in LATAM, Arturo Camargo.
You can download the full report in either Spanish or English to get a glimpse into how Latin America’s growth is affecting the Mobile App industry and specifically, the emerging opportunities for Mobile Games.