As Xbox and PlayStation flounder, Steam is reportedly having another record year

Steam is reportedly having another record year, generating $11.1 billion in revenue in the first half of 2026, according to estimates by Alinea Analytics. This surpasses its performance during the game-heavy end of last year and considerably exceeds the first half of 2025. Analysts attribute the growth to the prevalence of the Chinese market, higher prices on new releases, and third-party publishers returning to the storefront after dropping their own launchers. The biggest games on Steam so far this year include Forza Horizon 6 ($197.7m), Resident Evil Requiem ($194.5m), and Crimson Desert ($190m), followed by indie titles Slay the Spire 2, Subnautica 2 and Meccha Chameleon. Meanwhile, Microsoft's gaming revenue is down seven percent year-on-year, and PlayStation is selling fewer exclusives, with both companies facing increased hardware costs due to the AI-fuelled RAM crisis and negative consumer sentiment.