GEM Capital Analysis Explores Steam's Top-100 Wishlist Composition, Genres, and Promotion Channels

A recent analysis of Steam's top 100 most-wishlisted games, conducted by GEM Capital and reported by 80 Level, examines the metrics, genres, and promotional strategies behind successful titles. The findings divide the top 100 list evenly between independent games built on new intellectual properties with no preceding franchise, and games from large studios, corporate subsidiaries, or established franchises. The report notes that independent titles carry an average of roughly 910,000 wishlists, closely competitive with corporate titles averaging 955,000 wishlists.

According to the data, 31 of the 50 independent games on the chart were announced prior to 2025, holding about 70% of all indie wishlists on the list. Titles revealed before 2022 average around 1.2 million wishlists, reflecting how extended runway times and ongoing promotional beats help accumulate audience interest. When examining demand events, the announcement phase proves most powerful, generating an average of 220,000 wishlists over the first 30 days. However, performance varies widely depending on the strength of the initial reveal, with a correlation of 0.83 observed between 30-day video views and wishlist growth.

Regarding promotional channels, major showcases yield different results. The Game Awards leads the top tier at an average of 418,000 wishlists per appearance, followed by Summer Game Fest. Meanwhile, YouTube-led reveals average 175,000 wishlists, matching mid-sized industry showcases like the Xbox Games Showcase and Sony's State of Play. Additionally, Steam Next Fest emerged as a strong platform, averaging 190,000 wishlists without media spend costs by offering playable demos to high-intent audiences.

Genre analysis shows action RPGs and survival-adventures leading the chart with nine games each, while simulations follow closely with eight titles. Survival-adventures account for the largest share of total wishlists at 23%. In terms of setting and mood, fantasy and sci-fi comprise 44% of the titles, while dark games, horror, and post-apocalyptic settings represent 25 titles. Visual styles are split nearly evenly, with 26 realistic games and 24 stylized titles, indicating that concept clarity drives success regardless of visual fidelity.