Steam posts record $11.1 billion revenue in H1 2026

Analysts at Alinea Analytics estimate that Valve’s Steam platform generated more than $11.1 billion in gross revenue during the first half of 2026, a 14.5 % increase over the same period in 2025 and 8 % higher than the second half of 2025 that included the holiday season. The surge is attributed to a wave of Chinese players – roughly half of Steam’s user base – higher prices for new releases, several viral co‑op titles and the return of major third‑party publishers to the platform after experimenting with their own launchers.

Back‑catalog sales dominate the earnings: about 79 % of the H1 2026 revenue came from games launched before 2026, while only 21 % stemmed from new releases. The top‑grossing titles were Forza Horizon 6 ($197.7 m), Resident Evil Requiem ($194.5 m) and Crimson Desert ($190 m), with additional strong performers such as Slay the Spire 2, Subnautica 2 and Meccha Chameleon.

Steam’s user metrics also hit new highs, with 42.3 million concurrent users and over 200 million monthly active accounts. The platform’s growth contrasts with the difficulties faced by console rivals Xbox and PlayStation, which are dealing with hardware cost pressures and strategic setbacks. Valve does not publicly disclose its financials; the figures rely on market‑analysis of publicly visible sales and user data.