Steam vs Mobile Gaming Revenue

Steam vs Mobile Revenue

I used AppMagic‘s new Steam analytics tool to compare top games revenue in September 2025.

Both platforms delivered massive hits, but the top earners tell two very different stories.

Here’s how the revenue race looked:

𝗦𝘁𝗲𝗮𝗺’𝘀 𝘁𝗼𝗽 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗲𝗿𝘀:
• Counter-Strike 2 – $133M
• Borderlands 4 – $126M
• Hollow Knight: Silksong – $66M
• EA Sports FC 26 – $41M
• Dying Light: The Beast – $39M

𝗠𝗼𝗯𝗶𝗹𝗲’𝘀 𝗽𝗼𝘄𝗲𝗿𝗵𝗼𝘂𝘀𝗲𝘀:
• Roblox – $122M
• Last War: Survival – $117M
• Honor of Kings – $115M
• Whiteout Survival – $109M
• Royal Match – $106M

Notice something?

Mobile’s top 5 all cleared $100M – a sign of how dominant mobile has become in global spending.

Meanwhile, Steam’s revenue is more hit-driven, led by massive AAA and indie breakthroughs

But here’s the key takeaway:
• Steam still commands loyalty from core gamers.
• Mobile continues to win the scale and monetization game.

Two ecosystems.
Two strategies.
Both thriving in 2025.

If you had $10M to invest in one ecosystem next year, would you go Steam or Mobile?