Indie projects generated a quarter of the total game revenue on Steam by the end of 2025 — analytics
This conclusion was reached by analysts from Alinea Analytics.
Peak
According to analysts' calculations, from January 1 to December 19, 2025, all games on Steam collectively earned a record $17.7 billion. Consequently, indie games alone generated about $4.4 billion in revenue.
The report specifically highlighted the success of certain indie hits released throughout 2025. Analysts noted that five new releases alone accounted for 3% of Steam's total game revenue this year.
The top five highest-grossing indie releases of 2025 on Steam are:
1. Schedule I — $151 million;
2. R.E.P.O. — $147 million;
3. PEAK — $87 million;
4. Hollow Knight: Silksong — $75 million;
5. Escape from Duckov — $53 million.
Additionally, from a revenue standpoint, games like Dispatch, RV There Yet?, Deltarune, and dozens of other indie titles performed exceptionally well, though their earnings were not disclosed by the analysts.