Older games supplied most of Steam's top-500 September revenue

Steam generated an estimated $1.7 billion in gross revenue in September 2026, its strongest September on record, according to games-market research firm Alinea Analytics. Yet games released this year accounted for only 33.6% of revenue among the platform’s 500 highest-grossing titles for the month.

That group represented roughly three-quarters of Steam’s estimated September revenue. The figures show that new releases contributed to a record month, but most spending among its biggest earners went to games launched before 2026.

Established games keep earning

Alinea’s figures also show the strength of familiar series. Brand-new intellectual property generated 20.5% of top-500 revenue in September, compared with 79.5% for established franchises. This is a separate measure from release year: a game launched in 2026 can still be part of an existing franchise.

Free-to-play titles made up just 16% of the top 500 games but generated 25.6% of the group’s revenue. Counter-Strike 2, Apex Legends, PUBG and Dota 2 brought in almost $168 million combined during September, Alinea estimates. None of the four launched in 2026.

The continued earnings of older titles do not mean new games failed to find an audience. Wardogs generated an estimated $86.9 million on Steam in September after entering early access on September 10. Alinea puts its cumulative Steam gross revenue at more than $100 million from approximately 3.2 million copies.

Other recent titles also contributed to the month’s total. Alinea estimated September Steam revenue of $30.4 million for Onimusha: Way of the Sword, $26.9 million for The Blood of Dawnwalker and $20.7 million for EA Sports FC 27.

A record year within reach

September’s result was 13% higher than the same month in 2025. Alinea estimates Steam generated $5.5 billion from July through September, its best third quarter, taking its 2026 total to approximately $16.5 billion.

The firm estimates that Steam earned $19.9 billion across 2025. It would need around $3.5 billion in the final three months of 2026 to pass $20 billion in annual revenue for the first time, a threshold Alinea expects it to exceed.

For developers, the September figures underline the competition facing new releases. Alinea estimated that approximately 19,000 games had launched on Steam during 2026 by September. Those titles must compete for spending not only with other newcomers, but also with established games that continue to earn years after launch.