Valve has published a preliminary snapshot of **Steam's top-selling games of 2025**. While the results largely follow expectations, there are a few clear signals about where the platform is headed.
Big-budget releases and long-running live-service games dominate the upper tiers, but indie titles are far from buried. New releases like **Hollow Knight: Silksong** sit alongside industry heavyweights, reinforcing how much space Steam still gives to smaller, creative projects.
The rankings are based on **revenue earned up to December 1**, with Valve planning a final update on New Year's Day that will include December sales. Games are grouped into revenue tiers rather than ordered precisely, and titles within each tier appear in random order. That means we know who's winning, but not exactly by how much.
Some users are currently having trouble loading the page, but Valve has confirmed the following **top 24 revenue earners** so far.
• R.E.P.O.
• Call of Duty (multiple entries combined)
• Marvel Rivals
• Battlefield 6
• ARC Raiders
• PUBG: Battlegrounds
• Apex Legends
• Schedule I
• Borderlands 4
• Counter-Strike 2
• Dota 2
• Monster Hunter Wilds
• Baldur's Gate 3
• Clair Obscur: Expedition 33
• The Elder Scrolls IV: Oblivion Remastered
• Kingdom Come: Deliverance II
• Split Fiction
• EA Sports FC 26
• Cyberpunk 2077
• Dead by Daylight
• Elden Ring Nightreign
• Warframe
• Red Dead Redemption 2
• Helldivers 2
The presence of **R.E.P.O.** and **Schedule I** in the Platinum tier stands out. These aren't massive productions with blockbuster marketing budgets. They're relatively small, focused games that found traction through word of mouth and strong co-op design.
Along with titles like Peak, which remains among Steam's most-played games, they point to a broader trend: **cheap, quirky multiplayer experiences are driving much of the indie market right now**. Players want games they can jump into with friends without committing to a 100-hour campaign or a premium price tag.
The list also confirms the scale of **Battlefield 6's** success. The game reportedly delivered the **franchise's most significant launch in its 23-year history**, and analysts believe it's one of the few releases over the last two decades to outsell Call of Duty outright.
That said, player counts tell a more complicated story. **Call of Duty: Black Ops 7** may have fewer direct sales, but it likely maintains a larger active player base thanks to its availability on Game Pass.
Tracking Call of Duty's revenue has also become more difficult since Activision consolidated all entries into a single launcher. Since 2023, analysis of client activity suggests the franchise has been gradually losing players following the release of **Modern Warfare II**, even as it remains one of Steam's top earners.
Valve also published a separate ranking for **2025's new releases**, based on their first two weeks of revenue. While the list overlaps heavily with the main chart, **Hollow Knight: Silksong** is the clear standout.
The long-awaited sequel launched in September and immediately overwhelmed servers across every major gaming platform. Other strong performers include **Dune: Awakening** and **Kingdom Come: Deliverance II**, the latter earning an unexpected Game of the Year nomination at **The Game Awards**.
On **Steam Deck**, **Silksong** and **Hades II** rank among the most-played titles of the year, which aligns with their fast-paced sessions and handheld-friendly design.
Meanwhile, Steam's most popular demos of 2025 include **Schedule I**, **Stellar Blade**, and the **Monster Hunter Wilds** benchmark, suggesting that strong demos still play a significant role in driving sales.
Even before December's numbers are added, Steam's 2025 rankings paint a clear picture. AAA games still bring in the most money, but **indie hits can compete at the highest level** when they strike the right balance of price, creativity, and social appeal.
When Valve updates the list in January, the ordering may change. The trends almost certainly won't.
Big-budget releases and long-running live-service games dominate the upper tiers, but indie titles are far from buried. New releases like **Hollow Knight: Silksong** sit alongside industry heavyweights, reinforcing how much space Steam still gives to smaller, creative projects.
How the list works
The rankings are based on **revenue earned up to December 1**, with Valve planning a final update on New Year's Day that will include December sales. Games are grouped into revenue tiers rather than ordered precisely, and titles within each tier appear in random order. That means we know who's winning, but not exactly by how much.
Some users are currently having trouble loading the page, but Valve has confirmed the following **top 24 revenue earners** so far.
Top Sellers (Platinum Tier – ranks 1–12, unordered)
• R.E.P.O.
• Call of Duty (multiple entries combined)
• Marvel Rivals
• Battlefield 6
• ARC Raiders
• PUBG: Battlegrounds
• Apex Legends
• Schedule I
• Borderlands 4
• Counter-Strike 2
• Dota 2
• Monster Hunter Wilds
Top Sellers (Gold Tier – ranks 13–24, unordered)
• Baldur's Gate 3
• Clair Obscur: Expedition 33
• The Elder Scrolls IV: Oblivion Remastered
• Kingdom Come: Deliverance II
• Split Fiction
• EA Sports FC 26
• Cyberpunk 2077
• Dead by Daylight
• Elden Ring Nightreign
• Warframe
• Red Dead Redemption 2
• Helldivers 2
Indie games continue to break through
The presence of **R.E.P.O.** and **Schedule I** in the Platinum tier stands out. These aren't massive productions with blockbuster marketing budgets. They're relatively small, focused games that found traction through word of mouth and strong co-op design.
Along with titles like Peak, which remains among Steam's most-played games, they point to a broader trend: **cheap, quirky multiplayer experiences are driving much of the indie market right now**. Players want games they can jump into with friends without committing to a 100-hour campaign or a premium price tag.
Battlefield's biggest launch ever
The list also confirms the scale of **Battlefield 6's** success. The game reportedly delivered the **franchise's most significant launch in its 23-year history**, and analysts believe it's one of the few releases over the last two decades to outsell Call of Duty outright.
That said, player counts tell a more complicated story. **Call of Duty: Black Ops 7** may have fewer direct sales, but it likely maintains a larger active player base thanks to its availability on Game Pass.
Tracking Call of Duty's revenue has also become more difficult since Activision consolidated all entries into a single launcher. Since 2023, analysis of client activity suggests the franchise has been gradually losing players following the release of **Modern Warfare II**, even as it remains one of Steam's top earners.
New releases and breakout launches
Valve also published a separate ranking for **2025's new releases**, based on their first two weeks of revenue. While the list overlaps heavily with the main chart, **Hollow Knight: Silksong** is the clear standout.
The long-awaited sequel launched in September and immediately overwhelmed servers across every major gaming platform. Other strong performers include **Dune: Awakening** and **Kingdom Come: Deliverance II**, the latter earning an unexpected Game of the Year nomination at **The Game Awards**.
Steam Deck favourites and popular demos
On **Steam Deck**, **Silksong** and **Hades II** rank among the most-played titles of the year, which aligns with their fast-paced sessions and handheld-friendly design.
Meanwhile, Steam's most popular demos of 2025 include **Schedule I**, **Stellar Blade**, and the **Monster Hunter Wilds** benchmark, suggesting that strong demos still play a significant role in driving sales.
The bigger picture
Even before December's numbers are added, Steam's 2025 rankings paint a clear picture. AAA games still bring in the most money, but **indie hits can compete at the highest level** when they strike the right balance of price, creativity, and social appeal.
When Valve updates the list in January, the ordering may change. The trends almost certainly won't.