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The Epic Games Store lost money in 2023, is it dying?

epic games store money

Epic Games Store released a statement reflecting on its 2023 and disclosed its profitability while discussing what changes the platform will see in 2024.

The Epic Games Store launched in December 2018 as a competitor to Valve’s established games distribution platform, Steam. The platform made a splash for developers by promising smaller revenue cuts and dropping license fees for Unreal Engine games published through the store. 

However, the platform garnered criticism for bringing game exclusivity to the PC. Fortnite, Alan Wake 2, and the Kingdom Hearts series’ PC ports are exclusive to the Epic Games Store. Gamers who preferred Steam bristled at the exclusivity as it forced them to install another DRM they had no interest in. Through all this, many gamers wondered if Epic Games Store turned a profit for the studio and it turns out that it doesn’t.

Does the Epic Games Store make money?

Epic Games Store did not make money in 2023 despite significant growth.

However, Epic Games expected this and said as much in court during its legal battle with Google over its monopoly on the mobile games market in November 2023. Epic Games Store boss Steve Allison testified in court that the Epic Games Store was still unprofitable. The primary goal for Epic Games was still growth. 

In that respect, Epic Games Store continues its success and definitely isn’t dying. 2023 saw the Epic Games Store grow to over 270 million registered users, 40 million more than in 2022. Thanks to exclusive titles, discounts, and Epic Games Store’s Free Games Program, which handed out 86 free games in 2023, more gamers are lightening up to the upstart platform. 

The most popular games on the platform, dubbed by Epic as the “Mythic” tier, include Fortnite, Genshin Impact, Rocket League, Dead Island 2, and Grand Theft Auto V. Notable runner-ups include Hogwarts Legacy and Alan Wake 2. 

What changes are coming to the Epic Games Store in 2024?

A new download manager, improvements to offline mode, added features to friends list, and pre-loading pre-ordered games are coming to the Epic Games Store.

Epic Games Store noted that 2023 focused heavily on back-end developments. In contrast, 2024 will have more tangible benefits to the end-user. Highly requested features such as an improved Download Manager that offers more control, a friends list with more social features, and a more accessible way to turn on Offline Mode are among those requests.

Pre-loading for pre-purchased games is also good news for the upcoming year of releases. Hades II, STALKER 2, and Warhammer 40,000: Space Marine 2 will arrive at the Epic Games Store in 2024. The ability to pre-load means gamers can enjoy their highly anticipated games with no fuss. 

Overall, the Epic Games Store may not be the industry titan it needs to be to make Steam sweat yet, but the yearly growth is undeniable. Epic believes they could claim “half of all PC gaming revenue” in a document dated October 2019. Whether these lofty goals will ever be achieved remains to be seen.

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Written by Gab Hernandez

Gab Hernandez has a particular love for video games that give players control over the narrative direction, such as Divinity: Original Sin 2 and Disco Elysium. Gab spends just as much time playing games as they do gushing about them online to anyone who will listen. Their work has also been seen on TheGamer, Gfinity, and Wargamer, and you can follow them on Twitter / X at @HardlyWorkinGab.

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