By Arjay L. Balinbin, Senior Reporter
GALAXY Racer, an esports, gaming and lifestyle company, sees more opportunities to expand its services and partnerships in the Philippines, where the esports market has grown at a rate of nearly 13% annually since 2017.
“Galaxy Racer Southeast Asia has a total exclusive reach of over 330 million where the Philippines roughly shares 50% of this. The Philippines is primed to be a stronghold in Southeast Asia as it is where we have begun in the region,” Galaxy Racer Southeast Asia Chief Executive Officer Mitch Esguerra told BusinessWorld in an e-mail interview.
The company’s Philippines country manager, Marcia C. Guillermo, said that it is “relatively easy” to penetrate the Philippines, as the market is “mature.”
“However, the organizations surrounding it present different challenges such as strong competition from the local pioneers,” she said, adding that initiatives step back “in consideration of multiple governing bodies in this realm.”
But she said, “Galaxy Racer is prepared to tackle all these harnessing from the assets and capabilities of our growing team.”
Asked if there are any potential obstacles to the company’s growth in the Philippines, Ms. Guillermo said: “One of the biggest challenges is the diverse interests of the target market.”
“The ‘gamers’ which we are looking at are multifaceted, meaning a person could be interested in a certain type of gaming but would be more interested if it were tied in to another string of interest like music or fashion and so approaches will need to be done strategically.”
The target market has evolved, which means that gamers from five years ago are not the same ones today.
“Their behaviors have evolved, like how they engage and interact with different esports or game titles, platforms, types of content, and even how their other interests overlap with gaming. The target market already treats gaming as a part of their daily lives, so naturally, another string of interest like music and fashion freely overlaps,” Ms. Guillermo said.
Such overlaps have resulted in potential opportunities for Galaxy Racer and its stakeholders.
“Right now, we are expanding to multiple business verticals like GXR Limited and GXR Records to tap specific customer segments,” Ms. Guillermo said.
The company is a content partner of SIBOL, the Philippines’ national esports team that represented the Philippines at the recent Southeast Asian Games.
“In the Philippines, we are also partnering with the Collegiate Center for Esports that would solidify Galaxy Racer’s plans in expanding to collegiate esports by producing grassroots leagues and programs that would support and develop student-athletes, and provide scholarship opportunities through esports,” Ms. Guillermo said.
“Lastly, after its huge success in Dubai last March, we are looking into bringing GAMERS GALAXY, our very-own international esports event and tournament, to the Philippines which we see as one of our biggest esports products yet,” she added.