Adding the Largest Latin American Gaming and TV Subscription Markets Will Significantly Expand the Reach of Versus’ Prizing Technology
LOS ANGELES, March 23, 2021 (GLOBE NEWSWIRE) — Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) (FRANKFURT: BMVB) today announced that it has added new functionality to its patented Dynamic Regulatory Compliance prizing engine to support uses in Mexico, which is the largest gaming market, and the largest TV subscription market in Latin America. Versus will be partnering with some of its existing content partners to launch in Mexico in Q2 of this year.
By expanding into the Mexican market, Versus will leverage its gaming and second-screen expertise to provide unique prizing solutions for brands and content partners looking to engage with a combined audience of 85 million. According to Statista, user penetration for video games is expected to hit 65.0% by 2025 and household penetration of Pay TV and OTT services is expected to reach 32% in 2020.
“Digital media and entertainment in Mexico is an over twenty billion dollar market and it’s growing significantly year over year. The rapidly expanding Mexican gaming, interactive TV, and streaming markets represent tremendous opportunities for content creators and brands that want to add prizing and interactive engagement for their audiences. Adding access to Mexico is a fantastic fit with our multi-year partnerships with Xcite, Frias, HP, and all of our content and brand partners,” said Matthew Pierce, Versus Systems’ CEO.
About Versus Systems
Versus Systems Inc. has developed a proprietary in-game prizing and promotions engine that allows publishers, developers, and creators of games, apps, and other interactive media content to offer real world prizes inside their content. Players, viewers and users can choose from among the offered prizes and then complete in-game or in-app challenges to win the prizes. The Versus platform can be integrated into mobile, console, and PC games, as well as streaming media and mobile apps. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable law.
Source: Versus Systems Inc.
Released March 23, 2021