Earlier this year, it was announced that Mexico’s sport regulator, CONADE, had given official ‘sport’ status to the Mexican Federation of esports and that the country would be the first to host an esports championship awarding medals.
In Mexico, esports has experienced average growth of 6.6% year-on-year for the last 5 years, with the sector worth approximately US$1.4 billion according to the consulting firm Newzoo. According to Han Park, founder of the consulting firm esports Services LLC, the market could grow by up to 30% in the next 5 years, with potential investment from companies emerging through tournaments or championships.
In Mexico, esports are forecasted to generate more money than baseball, a sport particularly popular in the northeast of the country, whose projected earnings are below the estimated US$1.4 billion generated by esports. Of the approximately 70 million gamers in Mexico, some 10% have competed professionally.
Mexican broadcast giants TV Azteca and Televisa have already made investments in esports, with the former investing US$5 million in US esports production company Black Ridge Acquisition Corp, with the aim of launching a 24 hour dedicated esports TV channel between 2020 and 2021. In June 2019, Televisa launched BitMe, a TV channel devoted to esports, technology, anime and ‘geek culture’ more generally. BitMe will broadcast a mixture of live and recorded events throughout Latin America.
Leading Mexican university, the Monterrey Institute of Technology, in association with Dell-Alienware, invested US$100,000 to create the first university arena dedicated exclusively to esports at its Guadalajara Campus. The “Esports Arena Borregos” has capacity for 20 simultaneous players and has hosted a national tournament amongst private universities in Mexico to foster esports awareness and competition.
With significant sums being invested in esports in Mexico and considerable potential for growth both in number of gamers and investment, it is an ideal time to become involved in the Mexican esports market. CMS Mexico, supported by an international network of esports lawyers, can guide you through local regulations and requirements for market entry.