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Steam saw incredible growth across all fronts in 2024 as per latest Year In Review
Valve’s 2024 Year In Review for Steam is now available, and the gaming giant has highlighted all the things that happened last year. These include new features for both users and developers, along with data relating to platform growth, i.e., an increase in the number of users, time spent playing games, and revenue earned.
Some of the biggest features added last year to Steam were game recording and family sharing. While there were other major workshops and quality-of-life updates, the record and video game-sharing feature is likely much more popular. As per the report, players are sharing about 800 clips per minute using the Steam game recording feature.
As for the platform’s growth, Steam calls 2024 a big year. Before the year concluded, the platform saw a peak concurrent player count of over 39 million. The record has now been broken this year with 40 million concurrent users, but it was a huge achievement last year. Valve says they have nearly doubled the number of peak concurrent players since March 2020.
Also Read:Steam reaches another milestone with 40 million concurrent users
First purchase leads to players spending millions of hours on Steam
Steam has put a lot of effort into making gaming a fun experience for everyone, from gamers to publishers. The report also noted that this allowed for better retention. This was thanks to various factors, including successful new releases where players make their first-time purchases, something that Valve took note of.
“To gather data illustrating the effectiveness of that approach, we went all the way back to 2023 and identified the 20 biggest releases of that year. We looked at every new first-time purchaser generated by those products (that is, an account making a purchase, or redeeming a Steam key, for the first time) for a total of 1.7 million new users,” Valve wrote.
Making the first purchase later turned in many hours of gameplay across other titles and more purchases across games and DLC. As per the reports, the 1.7 million users monitored spent more than 141 million hours playing games. In terms of spending, the players spend $20 million on in-game transactions and $73 million on premium games and DLCs.