

While Microsoft’s more generous revenue share will be helpful, it will be interesting to see what other strategies Microsoft adopts to attract the PC category in the future. These factors have attracted viral indie hits like Valheim and Phasmophobia and created a competitive moat that will be difficult for Microsoft to overcome in the short term.

Steam has cemented its status as the top indie storefront due to its massive user base (130mn+ MAU’s in 2021), large library of 50k+ games, history of supportive programs, and its established indie ecosystem. As the Microsoft PC Storefront and PC GamePass product continue to mature, we expect intensifying competition between Steam and Microsoft for the PC gaming ecosystem. We then tracked which games they spent with outside of the Microsoft ecosystem.Īccording to our data, these users most commonly transacted with platform exclusives (like Nintendo games) or indie games (created by smaller development teams and independent studios) released exclusively on the Steam platform. Specifically, we analyzed a cohort of users who subscribed to Game Pass in 2021. To shed more light on this question, we applied insights from our work with Xbox Game Pass data.
