Steam Shatters Records with Historic First Half Revenue
Valve’s Steam platform has generated an estimated 11.1 billion dollars in gross revenue during the first half of 2026, according to research from Alinea Analytics, marking the platform’s most profitable six-month period on record. The milestone represents a stunning achievement that eclipses expectations and reshapes our understanding of PC gaming’s trajectory.
The first half of 2026 alone generated more revenue than all of 2020, a year that saw a surge in game purchases as people spent more time indoors due to the COVID-19 pandemic. Steam’s performance is up 14.5 percent on H1 2025, and up 8 percent even on the holiday-heavy H2 2025, which is the more remarkable comparison given the back half of the year usually wins on seasonal sales and holiday buys.
Perhaps most striking is where the money is coming from. Just 21 percent of Steam’s 2026 revenue has come from games that released this year, down from 29 percent in 2024. Growth is significantly bolstered by a rising influx of active users in Asia, with China leading the trend. The top five revenue performers for new games are Forza Horizon 6, Resident Evil Requiem, Crimson Desert, Slay the Spire 2, and Subnautica 2.
Five main factors contribute to the storefront’s growth: a surge in Chinese players, higher prices, viral co-op hits, smarter back-catalogue strategies from big publishers, and third-party publishers quietly returning to Steam after their own launchers faltered.
What does Steam’s staggering growth mean for the future of PC gaming and game pricing?
