Steam could break $20b annual revenue record in 2026

Steam could become the first gaming platform in its history to generate more than $20 billion in annual revenue, according to Alinea Analytics.

The prediction follows a record September for Valve’s PC gaming platform, which generated $1.7 billion in revenue during the month. That surpassed the $1.5 billion recorded in September 2025.

Steam also generated $5.5 billion during the third quarter of 2026, up 12% from the same period last year. Revenue for the first nine months reached $16.5 billion, compared with $14.5 billion during the corresponding period in 2025.

Alinea Analytics expects further game releases during the remainder of 2026 to help Steam pass the $20 billion mark. If reached, the figure would represent the first time the platform has exceeded $20 billion in annual revenue.

Among the 500 highest-grossing games on Steam in September, which accounted for around one-third of the platform’s total revenue, 20.5% were brand-new franchises.

Games from older series made up the remainder, while remasters and remakes accounted for 3.8%.

Games released in 2026 generated 33.6% of Steam’s revenue during September. Free-to-play games accounted for a further 25.6% of the month’s revenue.

Counter-Strike 2, Apex Legends, PUBG and Dota 2 generated a combined $168 million, accounting for around 10% of Steam’s total September revenue.

Wardogs was among September’s highest-grossing games, generating $86.9 million between September 1 and 30. The 100-player tactical first-person shooter features build-and-destroy mechanics.