Steam just made $11 billion in the last 6 months, and most of it came from older games

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Bottom line: Steam just posted its strongest half-year ever. In the first six months of 2026, Alinea Analytics estimates that games sold through the platform generated $11.1 billion in gross revenue, a record haul for Valve's PC storefront. That figure is close to what Steam generated across all of 2021, a year boosted by pandemic lockdowns, and it comes even though only 21% of that revenue is from games released in 2026. The rest came from older titles in Steam's back catalog.

Alinea lists Forza Horizon 6 as the top-earning new game on Steam so far this year, with an estimated $197.7 million in revenue since launch. Resident Evil Requiem is close behind at $194.5 million, followed by Crimson Desert at $190.1 million. Those sales numbers highlight how a few big releases can drive a large share of the platform's revenue.

The report ties the revenue surge to a some clear trends. One is user growth in Asia, with China singled out as a major source of new players and spending. Another is higher prices: publishers are putting out more high-priced games and using big, attention-grabbing partnerships to help sell them.