Steam now generates three times more revenue for Capcom than PlayStation

TL;DR: Capcom's latest financial report highlights a major shift in the company's business: PC gaming, and specifically Steam, has become a dominant revenue driver. In the last fiscal year, most of Capcom's game sales were on PC, and Steam alone brought in three times more revenue than PlayStation. The numbers reflect not just a platform preference but a broader realignment in how and where Capcom reaches its audience.

Capcom's securities report for the fiscal year ended March 31 (via Gamebiz) shows that Steam accounted for 31% of the company's revenue. Capcom's revenue from the platform, and by extension its PC gaming revenue, grew by approximately 38%.

Sales of games on Steam generated 52.7 billion yen (about $363.4 million) for Capcom during the last fiscal year, up from the previous year's 225 million dollars. Monster Hunter Wilds, which became one of the most played games in Steam's history on the day it launched, was likely a significant contributor despite being released near the end of the fiscal period. Ongoing sales of earlier major releases and back catalog re-releases also likely played a role.

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The report also shows that Steam's share of Capcom's revenue rose sharply from April 2024 to March 2025, increasing from 21 percent to more than one third. Although Capcom was once primarily known for arcade and console titles, PC gaming revenue has since surpassed that of PlayStation.

While the report does not specify PlayStation's revenue share for the most recent fiscal year, it was just 10.5 percent the year prior, and Steam's continued growth has likely pushed it below 10 percent. The report includes revenue from all parts of the company, not just from digital and physical game sales.

Although Capcom expects to earn more from consoles than PC through 2027, and likely receives most of its revenue from mobile, digital PC game sales – most of which take place on Steam – already account for the majority of its unit sales.

A recent presentation revealed that out of the 51 million games Capcom sold in the last fiscal year, 28 million were digital PC games. This marks a significant shift from just a few years ago.

Capcom recently unveiled Resident Evil Requiem, the latest mainline entry in its horror franchise, which is expected to be a key release in the current fiscal year unless it is delayed from its scheduled launch date of February 27, 2026. Two additional major titles, Onimusha: Way of the Sword and the long-awaited Pragmata, are expected to play a similarly important role in the following fiscal year.