Steam revenue is growing. According to GameDiscoverCo, the platform's gross income in May 2024 reached $1.075 billion. This is 14% more than a year ago.
As noted by gaming expert Simon Carless, this is a remarkable fact given that recently, analytical companies like Circana, GSD, and others have reported a decline in revenue from the console and PC gaming market in various countries.
According to Carless, their reports might miss a number of data points. For instance, analytical companies usually assess the situation only in leading regions (mostly in the West) and don't consider game sales in developing countries, where there is significant growth. Additionally, many analysts rely on data from major publishers and developers. However, a substantial portion of Steam's revenue is generated by games from smaller teams.