Alinea Analytics estimates Steam generated $1.7 billion in September 2026, its strongest September to date, and $16.5 billion in the first nine months of the year. Alinea market analyst Rhys Elliott forecasts that full-year revenue will exceed $20 billion, but that is a projection—not a finished result or a Valve-confirmed figure.
How much revenue did Steam make in September?
Alinea Analytics’ October 1, 2026 report estimates Steam revenue at $1.7 billion for September. Alinea describes that as the platform’s best September to date, 13% above the previous September record, set in September 2025. These are Alinea’s estimates; the report does not present audited accounts or an official Valve disclosure.
What are Alinea’s estimates for Q3 and the year so far?
Alinea estimates Steam generated $5.5 billion in the third quarter of 2026, its best Q3 to date and 12% above Q3 2025. For January through September, it puts revenue at $16.5 billion, compared with its $14.5 billion estimate for the same nine months of 2025—a 13% increase.
| Period | Alinea estimate | Comparison reported by Alinea |
|---|---|---|
| September 2026 | $1.7 billion | 13% above the prior September record, set in September 2025 |
| Q3 2026 | $5.5 billion | 12% above Q3 2025 |
| January–September 2026 | $16.5 billion | 13% above Alinea’s $14.5 billion estimate for January–September 2025 |
Is Steam on track to make more than $20 billion in 2026?
That is Alinea’s forecast, not a confirmed annual total. In its October 1 report, Rhys Elliott, Alinea’s head of market analysis, wrote: “Given the insane release slate for the rest of the year, it’s safe to say Steam’s yearly revenue will blow past $20B for the first time.” The forecast depends on the remaining release slate and on Alinea’s estimate-based picture of platform revenue. The $16.5 billion figure covers only the first nine months, so it should not be treated as a completed full-year result.
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Alinea’s report does not provide a complete explanation of how it extrapolates total Steam revenue. The overall figures should therefore be read as analyst estimates and a forecast, rather than Valve-reported sales.
Which games drove September’s estimated revenue?
Alinea’s estimates for individual games include several premium releases and established games. The amounts below are estimates of September Steam revenue from Alinea, not independently confirmed sales figures.
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| Game or group | Alinea’s estimated September Steam revenue |
|---|---|
| Wardogs | $86.9 million |
| Onimusha: Way of the Sword | $30.4 million |
| The Blood of Dawnwalker | $26.9 million |
| Bodycam | $24.2 million |
| EA Sports FC 27 | $20.7 million |
| Counter-Strike 2, Apex Legends, PUBG and Dota 2 combined | Almost $168 million |
What does Alinea’s top-500 breakdown show?
Alinea says the 500 highest-grossing games in its analysis represented about three-quarters of September revenue. Within that group, its report attributes about 79.5% of revenue to established IP and 20.5% to new 2026 IP. It also estimates that free-to-play games generated 25.6% of revenue in the group while making up 16% of its titles. Those shares describe Alinea’s top-500 sample, not a separately verified breakdown of all Steam revenue.
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What the numbers do—and do not—establish
- The $1.7 billion September figure, $5.5 billion Q3 estimate and $16.5 billion nine-month estimate come from Alinea Analytics.
- The more-than-$20-billion figure is Elliott’s forecast for the full year; as of the October 1 report, 2026 was still in progress.
- Alinea’s report provides estimates rather than Valve-confirmed revenue, and does not fully detail its methodology for estimating the platform-wide totals.
- The game and top-500 figures are also Alinea estimates, with the top-500 percentages applying only to the group it analyzed.
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