Steam is on course to generate more than $20 billion in annual revenue for the first time after recording its biggest September and third quarter ever.
Valve’s platform generated an estimated $1.7 billion in September 2026, according to data from Alinea Analytics, putting it 13% ahead of the previous September record set last year.
That helped Steam reach an estimated $5.5 billion in revenue during Q3, another record and a 12% increase compared to the same period in 2025.
Across the first nine months of 2026, Steam has now generated an estimated $16.5 billion. That is up around 13% from the $14.5 billion Alinea estimated for the same period last year.
With another full quarter still remaining, Alinea predicts Steam will pass $20 billion in annual revenue for the first time by the end of 2026.
A mixture of major new releases and Steam mainstays helped drive the platform’s record September.
Games released in 2026 accounted for around 33.6% of revenue generated by Steam’s top 500 grossing titles during the month, while entirely new IP released this year contributed 20.5%.
However, established franchises continued to dominate overall, accounting for approximately 79.5% of revenue among those games.
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