Rokky, a PC gaming distribution platform, released findings from a study by Atomik Research that surveyed 306 “managers in the games industry” about the future of PC distribution by 2025. The results are eye-opening: over 88% of participants indicated that Valve’s Steam platform “accounts for over 75% of their revenue,” while 72% of them view Steam as a monopoly. These insights were highlighted in a graphic that accompanied the study.
There’s a bit more nuance to the numbers. One key excerpt states, “72% feel Steam effectively exists as a monopoly and 53% are concerned about their level of reliance on that single platform.” But not everyone agrees with this assessment. Veteran analyst and head of Circana games, Mat Piscatella, finds these claims lacking. He expressed his views on Bluesky, stating, “In other words, 72% don’t know what a monopoly is.”
His critique doesn’t end there. Piscatella goes on to explain, “A monopoly is where there’s a single seller for a particular service or good with no substitutes and the ability to charge excessively high rates.” He reminds us that starting a PC distribution service is still on the table, adding, “There have been A LOT of them.” He quipped that this kind of debate pops up in gaming every few years, and he’s glad to engage in it.
Steam’s control over the PC gaming market has always been a hot topic. The 30% cut that Valve takes from transactions often raises eyebrows. Some developers argue it’s too steep, while others defend it as justified for the services provided. Despite Steam’s praised features and tools for discoverability, some developers and gamers actively support alternatives like GOG.
More importantly, Piscatella highlights the existence of alternative storefronts. While well-known platforms like GOG, the Epic Games Store, and Itch.io have made their mark, Rokky’s mission statement emphasizes helping developers expand their games’ reach beyond Steam—targeting access to “200+ global storefronts,” including many smaller or regional options.
However, the methodology behind Rokky’s study has drawn some criticism. For instance, a significant 77% of the participants came from companies with over 50 employees, and 67% were based in the US, while 75% held C-suite positions. Despite this, there’s still value in the findings, prompting interest without devolving into what Piscatella jokingly referred to as “Local waffle emporium reports pancakes are bad, actually.”
Piscatella pointed out a pressing issue: with more PC games than ever being produced, discoverability has become a significant hurdle. As he succinctly put it, “It’s like winning the lottery to break out.” He referenced concerns dating back to 2010 that have accused Steam of potentially destroying the PC games industry, asserting that many digital distribution platforms have emerged since then. The trouble is not just having stores; it’s convincing users to choose those stores over Steam.
In a bid to compete, Epic has invested heavily in exclusive titles and giveaways. Yet, despite these efforts and genuine improvements to its platform, the Epic Games Store has yet to turn a profit.
A former Amazon executive admitted that their attempts to rival Steam fell flat. The reason? As Ethan Evans put it, “Gamers already had the solution.” Instead of fixating solely on the monopoly narrative, Piscatella suggests investigating the “oligopolistic power” Valve possesses due to significant entry barriers in the PC storefront market. While Valve doesn’t dictate game prices directly, its influence in shaping the PC gaming landscape is undeniable—though it raises questions about why gamers prefer Steam in the first place.
Interestingly, one might ponder the thoughts of the 28% of developers who don’t view Steam as a monopoly. Adam Riches from developer Robust Games remarked, “Steam owns the PC market and there is no equivalent competitor who comes close.” He’s right; Steam’s dominance is clear. However, Piscatella wisely differentiates between popularity and a true monopoly.
One notable takeaway from the study is that “80% of developers expect alternative channels to become a regular part of their distribution mix within five years.” While Valve has successfully cultivated a “massive marketplace” on Windows with Steam, competitors like Microsoft and Xbox are also gearing up to expand their reach, stating, “We’re going to be everywhere.”