this post was submitted on 19 Jun 2025
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Debunking the grey market beyond Steam (www.gamesindustry.biz)
submitted 2 days ago by misk@sopuli.xyz to c/games@sh.itjust.works
153 comments fedilink hide all child comments
 

Despite facing increased competition in the space, not least from the Epic Games Store, Valve's platform is synonymous with PC gaming. The service is estimated to have made $10.8 billion in revenue during 2024, a new record for the Half-Life giant. Since it entered the PC distribution space back in 2018, the rival Epic Games Store has been making headway – and $1.09 billion last year – but Steam is still undeniably dominant within the space.

Valve earns a large part of its money from taking a 20-30% cut of sales revenue from developers and publishers. Despite other storefronts opening with lower overheads, Steam has stuck with taking this slice of sales revenue, and in doing so, it has been argued that Valve is unfairly taking a decent chunk of the profits of developers and publishers.

This might change, depending on how an ongoing class-action lawsuit initiated by Wolfire Games goes, but for the time being, Valve is making money hand over fist selling games on Steam. The platform boasts over 132 million users, so it's perfectly reasonable that developers and publishers feel they have to use Steam – and give away a slice of their revenue – in order to reach the largest audience possible.

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[–] misk@sopuli.xyz 1 points 15 hours ago* (last edited 14 hours ago) (1 children)

Valve will never IPO, why would they? They own a money printing machine that doesn’t need any more capital. They will print money until the heat death of the universe if we let it. Moreover, since they’re not a public company they don’t have to share their financials and if they did that people would be likely to sing a different tune.

I’ve never seen a conceivable scenario where anything else can happen unless Valve does something mental on purpose.

Some people here raised they concern that they don’t value Valve input to merit 30% cut and would take lower price if it meant it didn’t have features they don’t use. What’s happening now means there’s no real free market or competition.

[–] pory@lemmy.world 2 points 13 hours ago* (last edited 13 hours ago) (1 children)

Valve will never IPO, yes! I don't care why. That automatically makes it better than any other launcher/storefront platform that'll exist in my lifetime, barring one that commits to staying private, succeeds as a private company, and is content with "staying profitable" for x years. Platforms that IPO universally get worse and worse as they wring every drop of shareholder value from their users to feed the infinite growth machine. Platforms that have shareholders (which includes Epic and CDPR's GOG) have a primary motive of "being more profitable than last year". If, let's say, Epic made ten billion dollars in profit last year but also made ten billion dollars in profit in 2020, 2021, 2022, and 2023, it'd be a failed company.

I'll happily take the only company in the PC gaming space that's content with one money printer over every other option that's always thinking about how to make a second one, or reduce the ink costs, or blah blah blah. It's just a happy coincidence that in the PC gaming space (unlike pretty much every other space), the shareholder-free thing is also the most popular, and best thing. I'd use the worse less-popular thing if that thing were the only thing free from growth capitalism.

If a game dev doesn't value their presence on the Steam store higher than the cost of Steam's service, they don't list on Steam. Simple as. It's just that a lot of dev studios consider "visible on the Steam store" to be very valuable indeed. That's what they're paying for, not the stuff about Steam that benefits the user (client features like Input, Workshop, Cloud, Community, etc).

[–] misk@sopuli.xyz 1 points 4 hours ago

Valve will never IPO, yes! I don't care *why*.

Wow.