Alinea Analytics estimates that Steam generated $1.7 billion in September 2026, making it the platform’s best September to date and 13% higher than its previous September record, set in 2025. This is an independent estimate—not a monthly revenue figure disclosed by Valve.
What does the $1.7 billion estimate mean?
The figure is Alinea Analytics’ estimate of Steam revenue for September 2026. It should not be read as Valve’s profit, the amount Valve kept in platform commissions, net receipts, or an audited result. Alinea’s analyst Rhys Elliott described it as Steam’s best September to date, 13% above the previous September record in September 2025. Alinea Analytics’ September analysis contains the estimate; PC Gamer also quoted Elliott’s statement.
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How does September fit into Steam’s 2026 totals?
Alinea Analytics estimated Steam revenue at $5.5 billion for the third quarter of 2026, up 12% year over year. Its estimate for the first nine months of the year was $16.5 billion, compared with $14.5 billion for the same period in 2025.
Alinea forecasts that Steam will exceed $20 billion in revenue for 2026, citing the remaining release slate. That is a projection, not a known year-end result. Based on its $16.5 billion estimate through September, Steam would need to generate more than $3.5 billion in the fourth quarter to pass $20 billion; that is an arithmetic implication, not a separate Alinea forecast.
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What games and categories contributed?
Alinea’s breakdown covers Steam’s 500 highest-grossing games, which it says represented about three-quarters of September revenue. The percentages below describe that group, not every game or every component of Steam revenue.
| Measure | Alinea Analytics’ September 2026 estimate |
|---|---|
| Revenue from new 2026 intellectual property | 20.5% of top-500 revenue; established intellectual property accounted for 79.5%, including 3.8% from remakes and remasters. |
| Revenue by release year | 2026 releases generated 33.6% of top-500 revenue; 2025 releases generated 8.7%, and 2024 releases generated 9.3%. |
| Free-to-play games | 25.6% of top-500 revenue, while free-to-play titles made up 16% of the titles in the group. |
| Four leading free-to-play games | Counter-Strike 2, Apex Legends, PUBG, and Dota 2 generated almost $168 million combined in September. |
Release year and intellectual-property status are different measures: a game released in 2026 is not necessarily a new IP. The top-500 breakdown provides context for the estimate but does not, by itself, account for the entire $1.7 billion.
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- Visa Virtual eGift Cards are designed for online use only. Gift Cards are subject to Terms and Conditions: a.co/5bw3qXJ
- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
- This item is not eligible for refund, resale, or return. Available for sale within the United States only. Not available to residents of Puerto Rico, Hawaii, New Mexico, South Dakota, West Virginia and the US Virgin Islands.
Selected premium-release estimates
Alinea also estimated September revenue for selected games. These are title-level estimates, not official disclosures from their publishers.
| Game | Alinea Analytics’ September estimate |
|---|---|
| Wardogs | $86.9 million; released in early access on September 10. |
| 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. |
How certain is the estimate?
The reviewed Alinea analysis publishes the platform-wide estimate and a breakdown of the top 500 games, but does not disclose enough methodological detail to independently reproduce the $1.7 billion total or assign it a confidence interval. The figure is therefore best treated as a market analyst’s estimate, not a confirmed Valve result.
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- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
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- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
- This item is not eligible for refund, resale, or return. Available for sale within the United States only. Not available to residents of Puerto Rico, Hawaii, New Mexico, South Dakota, West Virginia and the US Virgin Islands.
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