Where Data Tells the Story
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The PC gaming business is experiencing its strongest period yet, while the console market faces a wave of uncertainty. During the first half of 2026, Steam posted its best financial results to date, reaching an estimated $11.1 billion in revenue—surpassing even its figures from the end of last year and marking a 14.5% year-over-year growth. According to analysis by Alinea Analytics, Valve's long-term trajectory shows a steady upward trend, having nearly quintupled its revenue compared to the same period in 2017.
This record performance comes down to a few key factors: the consolidation of the Chinese market (which accounts for 50% of active users), the return of major publishers after abandoning their proprietary launchers, and the commercial success of releases like Forza Horizon 6 ($197.7M) and Resident Evil Requiem ($194.5M), alongside strong performances from indie hits like Slay the Spire 2 ($141.7M) and Subnautica 2 ($133.6M). This paints a stark contrast with PlayStation and Xbox, both struggling with falling revenues, rising hardware costs driven by component shortages, layoffs, and controversial strategic decisions such as phasing out physical formats or restricting exclusives.