Capcom has released its financial report covering April 2024 to March 2025, and the big takeaway is that Steam is now the publisher’s single largest revenue driver. Sales on Steam over the period totalled 52.723 billion yen ($363 million), an increase of 61.1% over the previous fiscal year, which makes Valve’s platform responsible for 31.3% of the company’s total sales (versus 21.5% in the previous fiscal year).
Things get even more handsome when just looking at Capcom’s digital content business, which excludes stuff like arcades, with Steam accounting for 42.1% of total sales (thanks Gamebiz.jp). In comparison, sales of software on PlayStation now account for less than 10% of the total, with Capcom omitting the exact % due to it being below that threshold.
The total number of PC sales was 28,211,000 (a 30% increase from the previous year), and Capcom gives an especial shout-out to Monster Hunter Wilds. On all platforms Wilds sold at least 10 million, but again the strength-in-depth of Capcom’s offering is such that Monster Hunter: World sold 3.1 million while Monster Hunter: Rise shifted 2.4 million copies. These figures take the Monster Hunter series to over 100 million copies sold. Elsewhere various Resident Evil games sold a combined total of over 8 million, Street Fighter 6 managed 1.3 million, and Dragon’s Dogma 2 sold a million.
This is Capcom’s eighth year in a row of record profits, and it is one of the more notable successes among the traditional Japanese third-party giants. Capcom has in recent years pursued a strategy of releasing its newest titles simultaneously on Steam and consoles, while also porting and/or remastering older titles to the platform: and just like Sony, it’s learning that serving PC players pays very well indeed. As former PlayStation boss Shuehei Yoshida put it, releasing games on Steam “is almost like printing money.”
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