Latin America’s virtual goods market is set to
increase by more than 50% to $517m by 2012, according to research
by online monetisation platform PlaySpan.
The overall virtual goods market in Latin
America currently stands at $336m. Brazil is the fastest-growing
market for online entertainment in the region, accounting for 49
percent of the total market value or $165m. The Colombian market
makes up $44m with Mexico just behind at $42m. Argentina stands at
$19m and Peru brings up the rear of the top five with $15m.
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Credit and debit cards currently sit second
(26.7%) behind bank transfers (45.7%) as the preferred payment
method for virtual goods in Latin America with prepaid cards in
third (22.6%).
“The predominance of prepaid cards, e-vouchers
and bank transfers indicates that Brazilians prefer to pay with
cash because they either don’t have credit cards or would prefer
that charges and fees not appear on their phone bill,” said Joost
van Dreunen, president of SuperData Research.
“This preference for cash opens up major
opportunities for developers and publishers to capitalize on
gifting seasons and pay cycles.”
The research, which was undertaken in
partnership with digital goods measurement firm SuperData Research,
is based on estimates from the World Bank and Brazilian census in
combination with PlaySpan’s gamer payments database.
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