How Valve actually takes its cut
Steam's revenue share is tiered per app, lifetime: 30% on the first $10M of net revenue, 25% on the next $40M, then 20% beyond $50M. Almost no game ever reaches the lower tiers — modeling at a flat 30% is realistic for everything except megahits.
- • Tiers are per-application, not per-publisher.
- • Revenue is counted net of refunds, VAT, and chargebacks.
- • Workshop and DLC follow the same tiers, attributed to the parent app.
Refunds, VAT, and the gap between gross and net
Steam's 2-hour / 14-day refund policy means 6–10% of indie revenue evaporates before Valve takes its cut. Regional VAT (especially EU 19–25%) is pulled out before payout. The number on SteamSpy is gross — the number that hits your bank is much smaller.
FAQ
What percentage does Steam take?
30% by default, dropping to 25% on lifetime revenue past $10M and 20% past $50M (per game). Almost no game ever hits those breakpoints — assume 30% for planning.
Does Steam take its cut before or after refunds?
After. Valve calculates its cut on net revenue (after refunds, VAT, and chargebacks), not gross sales.
How much do indie games typically net on Steam?
After Valve, refunds, and VAT, indie devs typically keep 50–60% of the gross list-price revenue. Discounting and high refund rates can push that under 45%.