Steam is heading for its first $20 billion year. New estimates show that Valve’s store just had its best September and best third quarter on record. It now needs only a modest final three months to pass the mark.
The figures come from Alinea Analytics, a games market research firm. Valve does not publish Steam’s revenue, so every number here is an estimate, not an official figure.
How much money has Steam made in 2026?
According to Alinea Analytics’ September 2026 Steam report, Steam made an estimated $1.7 billion in September 2026. That is 13% higher than the previous September record, which was set in 2025.
Steam also had its biggest Q3 ever, at $5.5 billion, up 12% on last year. That brings the 2026 total to $16.5 billion so far, a 13% rise from the $14.5 billion Steam made in the first nine months of 2025.
| Period | Estimated Steam revenue | Change vs 2025 |
|---|---|---|
| September 2026 | $1.7 billion | Up 13% |
| Q3 2026 (July to September) | $5.5 billion | Up 12% |
| January to September 2026 | $16.5 billion | Up 13% (from $14.5 billion) |
| Full year 2025 | $19.9 billion | Previous record |
| Needed in Q4 2026 to reach $20 billion | About $3.5 billion |
For comparison, Steam made about $19.9 billion in 2025, its previous record year.
Steam has already made $16.5 billion, so it needs roughly $3.5 billion more before the end of December. Going by those same estimates, Steam made around $5.4 billion in the final quarter of 2025. That makes $3.5 billion a low bar. Alinea’s head of market analysis, Rhys Elliott, expects Steam’s yearly revenue “will blow past $20B for the first time.”
How the 2026 total has grown
| Point in the year | Estimated total | Source |
|---|---|---|
| January to June | $11.1 billion | Alinea, July 2026 |
| January to August | $15 billion | Alinea, September 2026 |
| January to September | $16.5 billion | Alinea, October 2026 |
Steam made an estimated $11.1 billion in the first half of 2026. By the end of August, the total was about $15 billion, up roughly 15% on the same period in 2025.
What drove Steam’s record September
Alinea looked at the top 500 highest-earning games on Steam, which brought in about three-quarters of September’s revenue. Here is how that money split:
| Revenue source (top 500 games) | Share |
|---|---|
| Established franchises | 79.5% (including 3.8% from remakes and remasters) |
| Brand-new 2026 IP | 20.5% |
| Games released in 2026 | 33.6% |
| Games released in 2025 | 8.7% |
| Games released in 2024 | 9.3% |
In simple terms, new games helped, but familiar names still made most of the money.
Top premium games on Steam in September 2026
| Game | September Steam revenue | Note |
|---|---|---|
| Wardogs | $86.9 million | Early access launch on September 10 |
| Onimusha: Way of the Sword | $30.4 million | Launched September 4 |
| The Blood of Dawnwalker | $26.9 million | New single-player IP |
| Bodycam | $24.2 million | Best month after its 0.8 update |
| EA Sports FC 27 | $20.7 million | Most sales are on console |
| How to Fish | $19.3 million | $7.99 co-op hit |
| Control Resonant | $12.7 million | Launched September 24 |
Wardogs was the clear winner. It made $86.9 million in September after it entered early access on September 10. In total, it has passed $100 million on Steam from 3.2 million copies. Alinea’s earlier Wardogs breakdown has more on how its launch compared with other shooters.
Wardogs still trails two older hits, though. Helldivers 2 has made $130 million on Steam and Arc Raiders about $125 million, because the buzz around both games lasted longer.
The Blood of Dawnwalker is an interesting case. Steam is its biggest platform by copies sold, but the PS5 version has made more money, at over $40 million. Alinea says this comes down to Steam’s regional pricing and more console players in higher-priced markets.
If you want the full list of what launched last month, see our roundup of the biggest games released in September 2026.
Esports games still bring in a big share
For esports fans, this may be the most interesting number in the report. Counter-Strike 2, Apex Legends, PUBG and Dota 2 together made almost $168 million on Steam in September. That is nearly 10% of everything Steam earned that month.
Free-to-play games as a group made 25.6% of the top 500’s revenue, even though they were only 16% of the titles.
None of these four games are new. They earn through in-game purchases instead of upfront sales, and they keep earning month after month. A big new release can top the chart for a few weeks. These games are still there years later.
Is the $20 billion Valve’s profit?
No. The figure is gross revenue: the total amount players spent on games through Steam. It is not the profit Valve keeps. Most of that money goes to the developers and publishers, and Valve takes a cut of each sale.
Also keep in mind that Steam has not released any official figures or forecasts. Alinea builds its estimates from sales tracking and player data, so the real numbers could be slightly higher or lower.
Steam revenue 2026 FAQ
How much did Steam make in September 2026?
About $1.7 billion, according to Alinea Analytics. It was Steam’s best September on record.
How much has Steam made in 2026 so far?
An estimated $16.5 billion from January to September 2026.
How much did Steam make in 2025?
About $19.9 billion, the previous record.
Will Steam make $20 billion in 2026?
Alinea expects it to. Steam needs only about $3.5 billion in October, November and December combined.
Does Valve publish Steam’s revenue?
No. Valve is a private company and does not share Steam’s sales figures. All public numbers are estimates from analytics firms.
The final 2026 total will not be known until early next year, and even then it will be an estimate. On current numbers, though, the only real question is how far past $20 billion Steam finishes.
