February 2025 Report

A Pivotal Month for Indie Developers Amidst a Crowded Marketplace

February 2025 emerged as a landmark month for PC gaming on Steam, marked by an unprecedented convergence of high-profile AAA releases and a vibrant showcase of indie innovation. The month’s line-up spanned genres from medieval RPGs like Kingdom Come: Deliverance II to strategy titans such as Civilization VII, creating a fiercely competitive environment for smaller studios vying for visibility^1,2. At the heart of this dynamic landscape lay the Steam Next Fest, Valve’s bi-annual event designed to spotlight upcoming titles through free demos and developer livestreams. For indie developers, the festival represented both a critical opportunity and a daunting challenge, encapsulating the broader struggles and triumphs of navigating an increasingly saturated digital marketplace^3,4.

Opportunities: Visibility, Creativity, and Niche Audiences

The February 2025 Steam Next Fest saw over 2,000 games participate, offering indie developers a platform to reach global audiences. Many titles leveraged unique premises to carve out niches, resonating with players seeking fresh experiences beyond mainstream offerings⁵. Promise Mascot Agency, a surreal mascot management sim, blended Yakuza-inspired storytelling with card-based mechanics and Rift of the NecroDancer, a rhythm-driven action game, exemplified the creativity thriving in the indie scene^1,4.

The festival’s revamped format, which emphasised trending wishlist metrics and demo engagement, allowed standout indies like Deliver At All Costs (a physics-based delivery sandbox) and Wanderstop (a narrative-driven teashop simulator) to climb visibility charts organically^3,6.

For studios targeting specific hardware, such as the Steam Deck, optimisation became a key differentiator. Games like Demon Tides and Birdigo capitalised on the handheld’s growing user base, demonstrating how technical adaptability could unlock new audiences⁷.

Challenges: Funding Shortfalls and Algorithmic Hurdles

Despite these opportunities, indie developers faced systemic barriers. Funding remained a critical issue, with 40% of studios reporting difficulties securing investments. The problem was exacerbated by downward pricing pressures as AAA titles dominated storefronts^8,9. Rebekah Saltsman of Finji highlighted the “crushingly impossible” task of securing marketing partnerships, even for studios with proven track records⁸. The sheer volume of Next Fest demos, including low-effort “AI slop” games, further complicated visibility efforts, forcing indies to compete not only with peers but also with algorithmic gatekeeping^3,10.

During Next Fest, Steam’s trending charts often favoured titles with pre-existing wishlist momentum, leaving newer or smaller studios struggling to break through³. Mélanie Christin of Humble Reeds noted the paradox of quality games being “invisible” amid the deluge of releases, a sentiment echoed by developers who saw their demos buried within hours of launch^8,11. Even successful participation in Next Fest demanded meticulous planning, as Valve’s format changes to separate demo pages from main store listings and required studios to constantly adapt their strategies¹⁰.

The Legacy of February’s Next Fest

The February 2025 Steam Next Fest ultimately reflected the dual realities of indie development: a platform for ground-breaking innovation but also a microcosm of systemic inequities. While titles like Palm Cracker (a retro-styled detective game) and Koira (a minimalist narrative adventure) captivated players with their artistry, their long-term success hinged on sustaining momentum beyond the festival’s seven-day window^12,13. For every breakout hit, countless others languished in obscurity, underscoring the need for structural support, such as mentorship programs and targeted funding initiatives, to ensure the indie ecosystem’s vitality^8,9.

As the gaming industry grapples with layoffs and consolidation, February 2025 served as both a cautionary tale and a beacon of hope. Indie developers, armed with creativity and resilience, continued to push boundaries, proving that even in a crowded marketplace, originality could still thrive^5,6.

Overview of Games Released on Steam in February

February saw 5% fewer games released overall, but while the number of self-published indie games being released fell, AAA releases increased. This could be down to many indie game developers using Next Fest in February to gather more wishlists during the festival and launch their game after the festival ended in March.

Some areas of the market became increasingly saturated in February and the games released did not perform as well as existing similar games. This is shown by the reduction in peer rank and the reduced SteamDB score suggests that games were not enjoyed as much by players compared to games released in January.

Both of of these factors are reflected in the 35% reduction in average estimated revenue compared to January. Overall, games released in February were not as successful as games released in January, in terms of both gross revenue and player enjoyment.

Top 5 Games Released in February

We use a combination of Peer Rank and Steam DB Score to determine our top games as opposed to revenue because success is defined by more than just overall monetary gain, especially when it comes to free-to-play titles. Using Steam DB Score and Peer Rank combines the sentiment of reviews, how many reviews they received and how this compares to the 100 most similar games surrounding a title. The result is a list of the most-loved, best selling games on Steam.

R.E.P.O
Door Kickers 2: Task Force North
Kingdom Come: Deliverance II
of the Devil
Rift of the NecroDancer

Shared Elements: Core Appeal Across Genres

1. Narrative Immersion and Player Agency

All five games prioritise immersive storytelling, though through differing mechanisms. Kingdom Come: Deliverance II (KC:D2) expands its historically grounded RPG with branching dialogue systems, such as the Appearance and Coercion skills, that let players shape the character’s identity and alliances^14,15. Similarly, of the Devil leverages episodic storytelling to unravel legal mysteries in a surveillance-heavy 2086 setting, requiring players to balance client advocacy with personal secrecy^16,15. Even rhythm-driven Rift of the NecroDancer embeds the main character’s quest within a structured narrative mode, blending gameplay with character-driven cutscenes¹⁷. This emphasis on agency suggests players increasingly demand stories where their choices resonate beyond superficial outcomes.

2. Multiplayer Dynamics and Social Engagement

Cooperative and competitive multiplayer elements feature prominently in R.E.P.O and Door Kickers 2, albeit with divergent tones. R.E.P.O’s horror-survival framework encourages alliances or betrayals in haunted environments, mirroring the emergent chaos of Lethal Company^18,19. Conversely, Door Kickers 2 emphasises tactical coordination, with players orchestrating synchronised raids using drones and breaching tools²⁰. Both titles highlight the growing appetite for shared experiences, whether through tension-driven camaraderie or strategic teamwork.

3. Nostalgia and Franchise Loyalty
Three titles (KC:D2, Door Kickers 2, Rift of the NecroDancer) are sequels or spin-offs, capitalising on established fanbases. KC:D2 doubled its predecessor’s map size and introduced firearms, refining its medieval realism^14,15, while Rift of the NecroDancer expanded its rhythm mechanics with remix modes and Steam Workshop integration¹⁷. This trend reflects player trust in iterative improvements and familiarity within evolving franchises.

Divergent Mechanics: Genre-Specific Innovations

1. Horror vs. Strategy: Contrasting Tension Vectors

R.E.P.O and Door Kickers 2 both thrive on tension but achieve it through opposing design philosophies. R.E.P.O leverages unpredictability; its physics-based humour collides with jump scares as players scavenge under monster threats¹⁹. Door Kickers 2 stresses meticulous planning, where a single misstep in breach timing can doom a mission²⁰. These approaches cater to distinct player psychographics: thrill-seekers versus analytical tacticians.

2. Historical Authenticity vs. Futuristic Speculation

KC:D2 and of the Devil anchor their narratives in contrasting timelines. The former meticulously reconstructs 15th-century Bohemia, integrating real-world landmarks like Kutná Hora’s silver mines¹⁴, while the latter envisions a 2086 judicial dystopia where AI and surveillance dominate¹⁶. This dichotomy highlights player interest in both meticulously researched history and speculative futurism, provided they offer coherent worldbuilding.

3. Rhythm Gameplay as a Unifying Mechanic

Rift of the NecroDancer stands apart with its rhythm-based combat, requiring precise inputs synchronised to music. This is a stark contrast to the free-form exploration of KC:D2 or the courtroom deductions found in of the Devil. Yet its daily challenges and custom track support¹⁷ appeal to the same desire for replayability seen in R.E.P.O’s randomised objectives¹⁸.

Player Preferences in February 2025

Key trends include hybrid genre appeal (evidenced by of the Devil’s legal-detective fusion), and community-driven content (evidenced by Rift’s modding support). Players embraced both episodic storytelling (of the Devil) and expansive sequels (KC:D2), indicating preferences for long-term narrative investment. Difficulty balancing also varied: Door Kickers 2 targeted hardcore tacticians, while Rift’s adjustable modes welcomed casual players.

Ultimately, February’s releases reflect a paradox: players seek familiar franchises and experimental indies simultaneously, craving consequential choices alongside session-based gameplay. This duality underscores an industry thriving on diversity, where developers must innovate while respecting audience expectations.

February's Self-Published Indie Releases

Although self-publuished indie games saw a drop in revenue compared to January, performance and player enjoyment were not significantly different compared to games released in January. Existing self-published games demonstrated their ability to achieve commercial success and critical acclaim; Phasmophobia surpassed 22 million total sales across platforms, A Game About Digging A Hole sold over 250,000 copies in just one week and Steam Next Fest provided a platform for indie developers to showcase their games to a global audience²².

Top 5 Self-Published Indie Releases

R.E.P.O
Door Kickers 2: Task Force North
of the Devil
Keep Driving
Tiny Pasture

While we've already discussed the first three games in our top five earlier, the fourth and fifth games throw yet more diverse game mechanics into the indie games arena. Keep Driving is an adventure RPG road trip game where players must navigate challenges on the road, pick up hitchhikers, work odd jobs, and manage resources. The game offers multiple storylines and endings based on player choices.

Tiny Pasture is an idle game that runs as a desktop overlay. Players raise and care for various pixel animals, unlocking new species and facilities over time. The game features breeding mechanics, resource management, and customisation options.

Let's focus on our top self-published indie game: R.E.P.O which is also the most loved and best performing released in February overall.

R.E.P.O: Community Driven Horror

Comparing the performance of R.E.P.O to 100 most similar games.

R.E.P.O. (Retrieve, Extract, & Profit Operation), developed by Swedish studio Semiwork, has emerged as a standout title in the co-op horror genre since its Early Access release in February 2025. Combining physics-based chaos, strategic teamwork, and a darkly humorous tone, the game has garnered an "Overwhelmingly Positive" Steam rating (97% from over 6,400 reviews) and peaked at 61,791 concurrent players within days of launch.

Although similar horror co-ops are becoming increasingly saturated and approaching very average performance, the genre still performs well in in terms of player satisfaction with the majority of games similar to R.E.P.O achieving a SteamDB score between 71-86%. The average estimated revenue for similar games is higher than the Steam average of $2,400, but R.E.P.O has clearly found a formula that resonates with players and cuts through the noise of games trying to piggy-back on the success of Lethal Company. Let's take a dive into what that formula could be.

Core Gameplay Mechanics

At its core, R.E.P.O. tasks teams of up to six players with infiltrating haunted facilities to retrieve artifacts for a mysterious AI employer. The gameplay loop revolves around locating valuables, transporting them via hover carts, and extracting them while evading monsters^23,24. What distinguishes it from peers like Lethal Company is its physics-based interaction system; objects have weight and inertia, requiring coordinated effort to manoeuvre grand pianos, fragile ceramics, and unwieldy statues. Players use a gravity beam that is reminiscent of Half-Life to manipulate items, with careless handling reducing their value or destroying them entirely^25,24. This creates slapstick moments while demanding strategic planning^26,27.

The extraction phase introduces high-stakes tension. Once players meet their quota, they must navigate a cart to an evacuation platform, triggering a countdown that alerts enemies. The final dash to escape tests teamwork and composure^23,28. Between runs, a robust progression system allows players to purchase upgrades like increased stamina, weapon unlocks, and expanded inventory slots, adding a meta-layer of strategy^25,27.

R.E.P.O. features 19 enemy types with unique behaviours^24,25and, unlike Lethal Company’s relentless pursuers, many enemies can be avoided through stealth. Players crouch to reduce visibility, hide under furniture, or shrink into objects to evade detection^26,29. This emphasis on evasion over combat encourages creative problem-solving, though grenades and explosive mines offer limited offensive options^26,27.

While designed for co-op, R.E.P.O. uniquely supports single-player runs. The absence of proximity chat reliance, smaller maps, and hiding mechanics make solo play viable and less stressful. However, players miss out on post-failure "King of Losers" brawls, a multiplayer-exclusive catharsis mechanic^24,25.

What Players Loved

The physics system received universal praise for enabling unpredictable hilarity. Reviewers highlighted scenarios like launching teammates into enemies, fumbling grand pianos through corridors, and triggering chain reactions of destruction^23,28,29. These emergent moments, paired with the game’s dark humour, foster camaraderie and replayability.

Players appreciated the upgrade system for adding long-term incentives. Investing in strength to move heavy items solo or optimising hover cart routes brings engaging meta-objectives^25,27. The balance between risk (pushing deeper for high-value loot) and reward (upgrades) keeps runs dynamic²⁴.

The diverse enemy roster, coupled with eerie environments like abandoned mansions and dystopian facilities, created a tense yet darkly whimsical atmosphere. The clown enemy, in particular, has become a fan favourite for its absurdity and challenge^25,28.

Solo players praised the game for avoiding the common co-op horror pitfall of feeling "empty" without friends. The focus on stealth and manageable map sizes made solo runs tense but fair^25,29.

Criticisms and Shortcomings

The absence of in-game matchmaking forced solo players to rely on Discord or external platforms to find groups, a significant barrier for newcomers^23,28. Semiwork has since announced plans to add lobbies, but its exclusion at launch angered players^28,30.

Some found the extraction countdown overly punishing, particularly when combined with aggressive enemy spawns. The requirement to perfectly align heavy objects on platforms also frustrated players^23,25.

While stealth is emphasised, the scarcity of weapons left players feeling underpowered during inevitable confrontations²⁷.

Developer Marketing Strategy

Early Access and Community Building - Semiwork leveraged Early Access to refine R.E.P.O. alongside its community, planning a 6–12 month development cycle^28,30. This approach built goodwill, as players saw their feedback integrated such as the upcoming matchmaking feature. Priced at $7.99 (20% off at launch), the game struck a balance between accessibility and perceived value.
Streaming and Viral Momentum - The studio actively partnered with streamers and content creators, resulting in hundreds of Twitch and YouTube showcases. This mirrored Lethal Company’s viral rise, capitalising on the co-op horror trend^28,30. Clips of chaotic gameplay spread rapidly, driving organic growth.
Open-Source Engagement - Though not explicitly stated, Semiwork’s focus on modding tools planned for full release aligns with open-source strategies that resonate with developer audiences³¹. By empowering players to create content, they foster long-term engagement.
Transparency and Roadmaps - Regular updates via Steam and social media kept players informed about bug fixes and features. This transparency, paired with a clear roadmap sustained interest^28,31.

Conclusion

R.E.P.O. succeeds by refining the Lethal Company formula with deeper progression, physics-driven comedy, and solo-friendly design. While matchmaking gaps and technical issues need addressing, its emphasis on emergent gameplay and community-driven development positions it as a co-op horror staple. Semiwork’s blend of streamer partnerships, accessible pricing, and iterative updates offers a blueprint for indie studios navigating competitive markets. As the game evolves, its potential to rival genre giants seems not just plausible, but inevitable.

February's AAA Releases

February saw an increase in releases from AAA studios and notably, an increase in average price. Releases were successful in terms of gross revenue, but player satisfaction overall was reduced compared to releases in January. In contrast, although games were released into more saturated markets compared to January, they did better in comparison to their existing closest 100 competitors with a strong 18% improvement in Peer Rank. This means that on average, the AAA games released in February were enjoyed more and performed better than the similar games that already existed.

Top 5 AAA Releases

Kingdom Come: Deliverance II
Like a Dragon: Pirate Yakuza in Hawaii
Tomb Raider IV-VI Remastered
Avowed
Yu-Gi-Oh! EARLY DAYS COLLECTION

Each game in this top 5 relies on the success of an existing franchise or nostalgia. Kingdom Come: Deliverance II is a 2025 action role-playing game developed by Warhorse Studios and published by Deep Silver. Set in 1403 Bohemia, it continues Henry's story from the first game, featuring an expanded open world twice the size of its predecessor. The game introduces new weapons like crossbows and early firearms, and enhances dialogue options.

Like a Dragon: Pirate Yakuza in Hawaii is a spin-off in the Yakuza series, following Goro Majima as he becomes a pirate captain in Hawaii. The game features both land and sea gameplay, with Honolulu as an explorable city and ship battles on the ocean. Combat includes two styles: Mad Dog for close-quarters fighting and Sea Dog for pirate-themed battles. The game offers a variety of activities, including ship upgrades, treasure hunting, and crew management.

Tomb Raider IV-VI Remastered is a collection of three classic Tomb Raider games, featuring updated graphics and modern enhancements. The collection includes Tomb Raider IV: The Last Revelation, Tomb Raider V: Chronicles, and Tomb Raider VI: The Angel of Darkness. New features include boss health bars, additional photo mode settings, and restored content for Tomb Raider VI. Players can switch between classic and modern graphics at any time.

Avowed is a first-person fantasy RPG developed by Obsidian Entertainment, set in the world of Eora from the Pillars of Eternity franchise. The game takes place on the Living Lands, a mysterious island threatened by a plague. Players can use various weapons and magic in combat, with a focus on exploration, questing, and companion interactions. Avowed aims to be more accessible than some of its contemporaries while maintaining depth in its storytelling and world-building.

Yu-Gi-Oh! EARLY DAYS COLLECTION is a compilation of 14 classic Yu-Gi-Oh! games originally released between 1998 and 2004 for Game Boy, Game Boy Color, and Game Boy Advance. The collection includes games previously exclusive to Japan, now available in multiple languages. It features various enhancements such as online battles for some titles, options to unlock all cards, and customisation features.

Let's dive into the data about the No.1 AAA from February; Kingdom Come: Deliverance II.

Kingdom Come: Deliverance II: Delivering Depth Through Medieval Realism

Comparing the performance of Kingdom Come: Deliverance II with its 100 most similar games

Kingdom Come: Deliverance II (KCD2) has solidified its place as a landmark in narrative-driven RPGs. Launched on the 4th February 2025, the game sold 2 million copies within weeks³², proving its resonance with audiences seeking depth over fantasy tropes. This is made more apparent by its performance, which is head and shoulders above the market average for simiar games. It achieved almost 41 times more revenue than similar games despite the high level of competiton shown by the saturation score.

Core Gameplay Mechanics

KCD2 doubles down on its commitment to medieval realism, rejecting fantastical elements in favour of grounded systems. Players control Henry, a blacksmith’s son turned political pawn, navigating a world where armour requires layered padding³³, swords chip without maintenance, and survival hinges on managing hunger, fatigue, and hygiene. The absence of fast travel forces engagement with the meticulously recreated Bohemian landscape, from Kuttenberg’s labyrinth of streets to dense forests teeming with bandits³⁴.

The combat system remains divisive yet immersive. Borrowing from historical fencing manuals, clashes demand precise directional attacks, perfect blocks, and stamina management. Enemies exploit openings ruthlessly, turning skirmishes into tense duels where a single misstep proves fatal. While praised for its depth, critics note overreliance on counterattacks that trivialise other mechanics if abused.

KCD2’s 2.2 million-word script³⁵ weaves a politically charged tale of revenge, loyalty, and identity. Dialogue choices influence faction reputations, quest outcomes, and Henry’s moral compass. However, some narrative choices lack permanence and pivotal character deaths are occasionally reversed which dilutes consequences³³.

The living city of Kuttenberg emerges as the game's crowning glory, blending historical accuracy with dynamic NPC routines. Shopkeepers open and close stalls based on time, guards patrol alleys, and taverns buzz with minigames like dice and archery. Side activities such as forging weapons, alchemy, and horseback riding anchor players in medieval life. The city’s scale is modelled on real-world layouts and invites exploration, but there is a risk of overwhelming newcomers to the franchise³⁴.

What Players Loved

Fans praised KCD2’s systems-heavy approach, where every action carries weight. Lockpicking requires steady hands, reading demands literacy skill progression, and armour customisation impacts mobility. PC Gamer hailed it as “a new RPG classic for maverick tastes”³³, resonating with audiences fatigued by hand-holding.

Players enjoyed the evolving bond between Henry and Lord Hans Capon which anchors the narrative. Once a lord-peasant duo, their relationship matures into mutual respect, blending humour and pathos. Hans’ voice acting, oscillating between aristocratic arrogance and vulnerability, earned particular acclaim³³.

IGN celebrated Kuttenberg as “one of the wonders of the modern RPG world”³⁴. Its bustling markets, subterranean catacombs, and multi-tiered class districts create an unparalleled sense of place. Quests like solving a serial killer mystery or mediating sword-school rivalries showcase the city’s narrative potential.

History buffs applauded Warhorse’s integration of real-world figures, including King Wenceslas and Sigismund of Hungary. Dream sequences with Henry’s deceased father, Martin, provide emotional depth while exploring themes of trauma and legacy³⁵.

Criticisms and Shortcomings

While rewarding for dedicated players, the combat system’s complexity alienated some. Master strikes dominate late-game duels, reducing strategic diversity.

Despite patches, players reported persistent bugs; clipping armour, erratic AI pathing, and quest triggers failing. The PC version’s optimisation drew mixed reactions, with framerate dips in Kuttenberg’s crowded sectors³³.

Players reported voice acting disparities. While main characters like Henry and Hans shine, secondary NPCs suffer from uneven performances.

The absence of manual saves outside beds (a carryover from the first game) frustrated players facing crashes mid-quest. Others found the 75-hour runtime bloated, with filler fetch tasks diluting political intrigue³⁴.

Marketing Strategy

Influencer Partnerships and Budget Allocation - Warhorse allocated $513,000 to influencer marketing, prioritising platforms by engagement depth:
- YouTube (71% budget): High-cost creators like Zanny ($74,556/video) and TheRadBrad ($21,411 for 12 videos) targeted core RPG audiences.
- TikTok (Cost-Efficiency): Australian creators like Insert Richie ($20,831 for 1.69M views) amplified regional appeal³⁶.
- Twitch (Engagement Overreach): Streamers like CohhCarnage ($23,225 for 90 hours) utilised Twitch Drops, rewarding viewers with in-game loot. 53 sponsored and 2,809 organic streamers promoted drops, fostering sustained visibility³⁶.
Regional Targeting and Authenticity - German streamer HandOfBlood ($30,520) highlighted efforts to court European markets, while Kuttenberg’s historical trailers emphasised Bohemian heritage. Warhorse’s transparency via developer diaries built community trust pre-launch³².

Conclusion

Kingdom Come: Deliverance II succeeds by refining its niche: a brutal, historically rooted RPG unafraid to alienate casual players. While combat imbalances and technical hiccups persist, its narrative ambition and systemic depth set a new benchmark for the genre. Warhorse’s marketing blend leveraged Twitch’s engagement, TikTok’s virality, and YouTube’s reach, proving to be instrumental in reaching 2 million sales swiftly. For players craving an unromanticised medieval odyssey, KCD2 is less a game than a time machine, warts and all.

February 2025 TLDR

February emerged as a pivotal month for the gaming industry, showcasing both the challenges and opportunities faced by developers in an increasingly crowded marketplace. The Steam Next Fest highlighted the vibrant creativity of indie developers, with titles like Promise Mascot Agency and Rift of the NecroDancer demonstrating innovative gameplay mechanics and unique narratives. However, the event also underscored the systemic barriers indie developers face, including funding shortfalls and visibility challenges amidst a sea of releases.

The month's top games, R.E.P.O and Kingdom Come: Deliverance II, exemplified the industry's diverse appeal, blending immersive storytelling, multiplayer dynamics, and genre-specific innovations. R.E.P.O's success in the co-op horror genre demonstrated the power of physics-based gameplay and community-driven development. Meanwhile, Kingdom Come: Deliverance II's commitment to historical realism and systemic depth set a new benchmark for narrative-driven RPGs.

As the industry continues to evolve, February 2025 serves as a microcosm of broader trends; the ongoing struggle for visibility in a saturated market, the importance of community engagement, and the enduring appeal of both innovative indies and established franchises. The month's releases reflect a gaming landscape where creativity and strategic marketing are paramount to success.

February 2025 Report

Author: Jennie Burton, Head of Marketing

Category: Data Analysis

Published: 3/10/2025

Updated: 8/23/2025