Steam maintains a dominant market position, generating $10.8 billion in 2024 revenue with concurrent users increasing from 25.4 million in 2021 to 40.5 million by September 2025.
Developer reliance on Steam is extreme, with 88% of studios deriving over 75% of their revenue from the platform and 37% relying on it for more than 90%.
Despite 72% of developers labeling Steam a monopoly, diversification is underway, with 48% of studios utilizing the Epic Games Store and the Xbox PC store for distribution.
Alternative distribution channels are gaining significant traction, as 38% of developers now sell through e-stores like Humble or Fanatical, and 30% utilize marketplaces like G2A or Kinguin.
Financial projections for alternative channels are optimistic, with 75% of developers anticipating at least a 10% revenue uplift and 80% expecting these platforms to become increasingly vital.
Physical media remains a relevant distribution niche, as 32% of developers continue to issue boxed copies to satisfy a consumer base where 72% express an appetite for physical releases.
The study aims to map the contemporary PC game distribution ecosystem and evaluate whether Steam functions as a de‑facto monopoly, while outlining alternative channels, associated risks, and growth opportunities for developers and publishers. It positions Steam’s dominance against emerging storefronts, physical media, and gray‑market platforms, offering strategic guidance for navigating a fragmented market beyond 2025.
Steam’s market power is evident: 2024 revenue reached $10.8 billion and concurrent active users rose from 25.4 million in 2021 to 40.5 million by September 2025. Eighty‑eight percent of surveyed studios report that Steam delivers over 75 % of their revenue, with 37 % relying on it for more than 90 %. Consequently, 72 % of respondents view Steam as a monopoly and 53 % express concern over this reliance. Nonetheless, diversification is growing—48 % have launched titles on the Epic Games Store, a similar share on the Xbox PC store, while 10 % and 8 % have used GOG and itch.io respectively. Physical releases persist, with 32 % of developers still issuing boxed copies and 72 % of consumers indicating a continued appetite for them.
Alternative distribution via e‑stores (e.g., Humble, Fanatical) and marketplaces (e.g., G2A, Kinguin) is gaining traction: 38 % of developers sell through e‑stores and 30 % through marketplaces. Seventy‑five percent anticipate at least a 10 % revenue uplift from these channels, and 80 % expect them to become
