Steam clocks record $11 billion in six months as older games dominate

MUMBAI: Old games, it seems, have discovered the ultimate cheat code: they simply refuse to quit. Steam has recorded the most profitable six-month period in its 22-year history, generating $11 billion in revenue between January and June 2026, with older titles accounting for the overwhelming majority of purchases.

According to data compiled by Alinea Analytics, the figure has already surpassed Steam’s total revenue of $7.2 billion during the pandemic-driven gaming boom of 2020 and is closing in on the platform’s full-year 2021 revenue of $11.4 billion.

Perhaps the biggest surprise lies in what gamers are buying. Only 21 per cent of purchases during the first half of 2026 came from games released this year, meaning 79 per cent of sales were generated by titles launched in 2025 or earlier.

The trend has been building steadily. Games released during 2024 contributed just 29 per cent of that year’s revenue, while 2025 releases accounted for only 27 per cent of sales last year, suggesting players are increasingly returning to established titles rather than chasing every new launch.

Among this year’s biggest releases, Forza Horizon 6 emerged as Steam’s top earner, generating $197.6 million, narrowly ahead of Resident Evil Requiem with $194.5 million and Crimson Desert with $190.1 million.

Yet while these blockbuster launches topped the charts, they represented only a fraction of Steam’s overall business, with the platform’s vast back catalogue continuing to drive the lion’s share of revenue.

Several factors have fuelled Steam’s record-breaking performance. These include a surge in new users across Asia particularly China higher launch prices for new games, the viral success of cooperative titles such as Meccha Chameleon, the return of third-party publishers after abandoning proprietary launchers, and a growing wave of remastered and re-released catalogue titles.

The figures underline a broader shift in the PC gaming industry, where longevity is becoming just as valuable as novelty. Rather than relying solely on blockbuster launches, publishers are increasingly extracting value from established franchises, while gamers continue investing in familiar titles supported by years of updates, downloadable content and active communities.

With Steam already approaching its entire 2021 revenue in just six months and industry watchers anticipating further momentum ahead of the expected arrival of the Steam Machine 2026 is shaping up to be another landmark year for Valve as digital distribution tightens its grip on the global gaming market.