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Steam’s Top 10 Games Took 61% of 2023 Release Revenue

VGI estimates that Steam’s ten highest-grossing 2023 releases captured 61% of full-game revenue from that year’s releases, while accounting for about 20% of all Steam full-game revenue.
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Ten games released on Steam in 2023 generated an estimated 61% of the full-game sales revenue earned by all games released on the platform that year, according to Video Game Insights (VGI). That does not mean they took 61% of all Steam revenue: GamesBeat, reporting VGI’s analysis, put their share of Steam’s total 2023 full-game revenue at about 20%.

What the 61% figure measures

The denominator is estimated full-game revenue from games released on Steam during 2023—not revenue from every game available on Steam that year. VGI’s report estimates that the ten highest-grossing 2023 releases generated 61% of their release cohort’s full-game revenue. The same report estimates total Steam full-game revenue at $9.0 billion in 2023, excluding in-game spending; GamesBeat says the ten represented about 20% of that broader total. Those percentages answer different questions.

VGI defines full-game revenue as direct sales of the base game, excluding DLC and microtransactions. Its estimates combine estimated units sold with prices at the time, accounting for Steam’s cut, local currencies, refunds or returns, and discounts. VGI describes using multiple approaches to estimate units, including an internal sales-data algorithm and a method based on Steam review counts. These are third-party estimates, not Valve disclosures or audited results. VGI says it is not affiliated with Steam or Valve and cautions that its report data are estimates. VGI’s Global PC Games Market Report 2024 and GamesBeat’s coverage explain the figures and their context.

The 10 highest-grossing Steam releases of 2023

VGI’s figures below are estimates of Steam full-game revenue for 2023, not global sales or publisher-reported totals. The report gives rounded amounts.

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Rank Game Estimated 2023 Steam full-game revenue
1 Baldur’s Gate 3 $657 million
2 Hogwarts Legacy $341 million
3 Starfield $235 million
4 Resident Evil 4 $159 million
5 Sons Of The Forest $116 million
6 ARMORED CORE VI $87 million
7 EA SPORTS FC 24 $81 million
8 STAR WARS Jedi: Survivor $68 million
9 Lethal Company $52 million
10 Cities: Skylines II $50 million

VGI estimates Baldur’s Gate 3 alone generated $657 million in Steam full-game revenue in 2023, equal to 21% of revenue attributed to all Steam games released that year. The values and ranking come from the report’s top-ten list.

How concentrated were sales among new releases?

The top ten captured most, but not all, of the estimated revenue from Steam’s 2023 release cohort. VGI puts the top 100 releases at 91%; the remaining 13,871 releases accounted for 9%. The report rounds its headline release count to about 14,000 and gives the more specific figure of 13,971 elsewhere.

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VGI’s historical series also shows a rising top-ten share over the years it covers: 37% in 2016, 41% in 2019, 51% in 2022, and 61% in 2023. The reported figures for 2017, 2018, 2020, and 2021 were 37%, 47%, 43%, and 42%, respectively. This describes the report’s 2016–2023 series; it does not establish what happened after 2023. VGI’s report contains the annual comparison.

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How to interpret the statistic

  • Check the denominator: 61% refers to full-game sales revenue from 2023 releases. About 20% refers to all Steam full-game revenue in 2023.
  • Check what counts as revenue: VGI’s full-game measure excludes DLC and microtransactions.
  • Check who produced the number: VGI estimated the figures; Steam and Valve did not disclose or audit them.
  • Check the comparison: The top 100’s 91% share also applies to the 2023 release cohort, not the entire Steam catalogue.

Steam’s own Best of Steam 2023 page presents platform categories, but VGI’s revenue estimates are a separate analysis. For additional report context, Sensor Tower’s summary of the 2024 Global PC Games Market Report describes its Steam revenue and trends coverage.

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