What began as an ambitious endeavor to rival Valve’s Steam in 2018 has evolved into a more substantial player in the digital marketplace, as Epic Games unveils its “Year in Review” for 2024. The report highlights notable advancements, showcasing a marketplace that, while still trailing behind Steam, is no longer relegated to the sidelines.
User Growth and Engagement
Epic Games proudly announces that its store has attracted an impressive 295 million users on PC, alongside nearly 900 million cross-platform accounts when factoring in devices that support Fortnite, including mobile and console platforms. This marks a significant increase of approximately 100 million users from the previous year, resulting in a robust average of 67 million monthly active users (MAUs). Epic reports a 6% rise in this metric over 2023, although they opted not to disclose a full-year MAU figure for 2023, choosing instead to spotlight December’s performance.
Revenue Insights
However, the financial landscape presents a more complex picture. Epic’s revenue from third-party game sales on PC has seen a decline, dropping from 0 million to 5 million—a striking 18% decrease year-over-year. This downturn is particularly concerning, given that third-party sales typically represent a significant revenue stream for online marketplaces. The overall revenue, however, has risen from 0 million to .09 billion, suggesting that the influx of new users is largely attributed to Epic’s own titles rather than third-party offerings.
Top Titles and Player Engagement
In terms of player spending and engagement, the top three titles on the platform are all Free-to-Play games. Hoyoverse’s Genshin Impact leads the pack, followed closely by Epic’s own Rocket League, and then again by Hoyoverse with Honkai Star Rail. The first paid title to make the list is none other than Grand Theft Auto V, recognized as the most profitable piece of media ever produced.
Future Developments
Looking ahead, Epic has plans to enhance its mobile applications as part of an ongoing battle against tech giants Google and Apple. Additionally, the PC client is set to receive long-awaited features including voice chat, text chat, out-of-game invites, and pre-loading capabilities.
While the overall growth figures can be viewed through a positive lens, the decline in third-party revenue raises valid concerns. It is plausible that individual titles on Steam or first-party console stores generated more revenue in 2024 than Epic’s total third-party sales. If this trend persists, it may challenge Epic’s ability to sustain third-party game sales, especially as the majority of their revenue increasingly relies on their own successful franchises such as Fortnite, Rocket League, and Fall Guys.
