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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

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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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[–] pory@lemmy.world 2 points 19 hours ago* (last edited 2 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. We're having this conversation on Lemmy instead of on Reddit for presumably this reason. 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 10 hours ago (1 children)

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

Wow.

[–] pory@lemmy.world 1 points 3 hours ago* (last edited 3 hours ago) (1 children)

In 2025, a company that is just looking to make a shitload of money is enough to automatically "win".

Valve: "What are you selling?" Video games, video game hardware without vendor lock-in, and in-app purchases. "Who are you selling it to?" PC gamers.

Literally everyone else in the space except for Itch, which is decidedly focused on too-indie-for-indie games and is small enough to be acquired if it ever gets popular: "What are you selling?" The promise that we'll make more profit next year than this year. "Who are you selling it to?" Shareholders or a corp that'll buy the whole company.

It's an absolute no-brainer. Until anyone else can answer these questions in the same way Valve does, Valve is automatically the best player in the space. Even if another store sells games for cheaper, or has exclusives, or bans DRM, or manages to make a better storefront program, or pays developers a bigger cut. I'm not on some "good guy Gabe" circlejerk shit. There's no morals to ascribe here. Valve makes enough money and is okay with making enough money, forever. MS, Epic, EA, Ubisoft, Nintendo, Sony, CDPR, Apple, Amazon, ActiBlizz, and every other storefront operator will be considered a failure if they don't make "more more money than last year" every year forever. I know which platform I want to maintain a library on. I'll happily use GOG and Itch to buy DRM-free installers though, those will outlast any enshittification the platform does in the future.

[–] misk@sopuli.xyz 1 points 37 minutes ago

I would take a shitty store with 10% cut if it had all the games Steam does and if I could take my games with me. I don’t care for what Steam provides but I have no choice.