Baldur's Gate 3 Was the Biggest New Bestseller on Steam in 2023

The year 2023 marked a phenomenal milestone for the world's leading digital game marketplace, Steam, as it saw a surge in the number of games released, with a reported 13% increase according to some statistics (although this figure isn't universally acknowledged). The data provided by Statista suggests significant industry growth in this area.

Delving into the analytics from Video Game Analytics as reported by VentureBeat, Steam's game sale revenues have seen an astonishing doubling since 2019, with an 18% growth spurt from the previous year, bringing in a revenue of $9 billion. Notably, the games introduced in the twelve months leading up to this period have contributed a substantial one-third to this impressive revenue figure. A staggering 580 million game copies found buyers in the last calendar year alone.

Analyzing Steam's revenue stream, the top ten blockbuster games in 2023 have been a financial goldmine, raking in $1.85 billion out of the $3 billion generated from sales of the year's fresh releases. This implies that these games have cornered a whopping 61% slice of the total earnings (corresponding to 20% of the total "full games" revenue on Steam). If we cast a wider net and look at the top 100 bestsellers from the last year, their combined take constitutes 91% of all the new game proceeds.

Taking the crown in this lucrative market was Baldur's Gate III, a result that may hardly raise eyebrows given its meteoric rise since its release in August. Its maintained momentum has kept it perched high on Steam's bestseller charts, holding the second position at the time of the report. The phenomenal draw of Larian's creation has been translated into a staggering $677 million in Steam sales, accounting for a significant 21% slice of all 2023 game release earnings.

It's noteworthy, however, that out of the 14,000 titles that launched, a mere 309 adopted the free-to-play model, and only about 700 (5%) garnered more than $100,000. Casting a broader gaze over the expansive Steam library, which encompasses over 100,000 titles, less than 1% managed to breach the $1 million sales revenue mark in 2023. This underscores the harsh reality that only a few video games achieve noteworthy financial success.

Looking ahead, the prospects for 2024 appear shadowed in comparison. With a forecast of fewer major releases, anticipated dips in console prices, and the looming influence of subscription-based services, Steam may face challenges in its quest to duplicate the breakthrough success of 2023.