GoKawiilAccording to new research published by Alinea Analytics, Valve has grossed an estimated 11.1 billion dollars throughout the first half of 2026. If correct, the estimates would make it Valve's most profitable half-year on record, as digital storefronts become the norm throughout the games industry. Earlier this month, Sony announced that it would stop making new physical PlayStation discs by 2028, instead turning its efforts digital.
According to a Substack post from research firm Alinea Analytics, games sold on the platform accumulated $11.1 billion in revenue in the first six months of this year, which is a 14.5% jump compared to the first six months of 2025. Even more impressively, though, Steam's H1 2026 has posted 8% higher numbers than H2 2025, which includes the lucrative holiday season where most of the biggest sales happen. The store generated "only" $10.3 billion in revenue during the latter half of 2025.
Steam has been on a consistent incline for 10 years, boasting record revenue numbers almost every successive year. Even if it hits a slump, the data shows Valve has never had two bad years in a row; a recession is always followed by a boom. Alinea says five main factors contribute to the storefront's growth: a surge in Chinese players, higher prices, viral co-op hits, and smarter back-catalogue categories from big publishers.
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The last one is rather ironic, as it involves third-party publishers quietly returning to Steam after their own launchers faltered. Some companies like Activision still inject their proprietary launchers between Steam and the game itself for titles like Call of Duty, but the situation has generally improved.
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Almost 10 years ago, in the first half of 2017, the platform made a little less than $2.5 billion, which means the H1 2026 revenue is 4.7 times higher, almost quintupling in a decade. Moreover, it's remarkable to believe that Steam also made more in the first six months of this year than it did in the entirety of 2020, when most of us were confined to our homes, free from responsibilities, and with a lot of time on our hands.
Alinea lists Forza Horizon 6, Resident Evil Requiem, and Crimson Desert as the top three games for Steam's explosive H1 2026 numbers — all of them made almost $200 million. Games from prior years also played a bigger role this time since 2026 releases only accounted for 21% of the $11.1 billion, while 27% of H1 2025's revenue came from 2025 launches; 29% of H1 2024's revenue was accumulated from 2024 releases.
Amidst all the data, a clear trend is forming. People are looking back in their libraries and appreciating older games more than ever before, while new releases still make an impact if they're universally acclaimed. With the highly anticipated GTA VI coming soon (with no current PC release date), it'll be interesting to see how these numbers change. Now, if only Valve could make more Steam Machines to play all those older games everyone seems to be playing.
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