Valve's Steam platform generated $11.1 billion in gross revenue during the first half of 2026, according to Alinea Analytics estimates. This nearly matches the full-year $11.4 billion recorded in 2021 during the pandemic gaming surge. As a private company, Valve does not disclose financials publicly.

Surprisingly, only 21% of revenue came from 2026 game releases, with the vast majority driven by older catalog titles. Top sellers included Forza Horizon 6 ($197.7M), Resident Evil Requiem ($194.5M), and Crimson Desert ($190.1M). Analysts suggest gamers may be waiting for post-launch patches or purchasing discounted older games.

Key growth drivers include rapidly expanding active users in Asia, led by China, higher-priced game releases, viral studio collaborations, and publishers abandoning proprietary launchers to return to Steam. Even Epic Games struggles to attract players without free game giveaways, signaling Steam's dominance continues to strengthen.