Analyzing Your Steam Next Fest Results: What the Numbers Mean
Next Fest is over. You survived the week. You probably didn't sleep enough. Now comes the part that actually determines your game's future: figuring out what the numbers mean.
TL;DR: Your Next Fest tier (Diamond/Gold/Silver/Bronze) is determined by wishlists earned, but the majority of those wishlists come from people who never played your demo. The pre-fest wishlists you entered with strongly predict your results. Use the data to decide: launch, delay, or pivot.
Key Takeaways
- 68-88% of your wishlists came from people who never touched the demo, proving your store page and capsule art did the heavy lifting
- The tier you enter Next Fest with predicts the tier you leave with, as games need wishlists to earn wishlists
- Days 1-2 are randomized visibility, but Day 3 onward the algorithm rewards performers aggressively
- Diamond tier (10K+ wishlists) means launch when ready; Bronze (0-1K) means something fundamental needs to change before launch
- Cross-reference content creator coverage dates with your daily wishlist spikes to identify which creators actually drove results
Most developers check their wishlist count on Day 7, feel either euphoric or crushed, and then move on. That's like reading the final score of a game without watching the replay. The raw number matters, but the story behind it matters more. Our complete Next Fest preparation guide covers everything leading up to the event. This article is about what happens after the confetti settles.
The good news: Valve gives you clear post-fest metrics. The better news: Chris Zukowski has been surveying hundreds of developers after every Next Fest since 2022, giving us real benchmark data to compare against. You're not operating in the dark. You just need to know where to look and what to look for.
The Metrics That Matter
Steamworks provides several data points after Next Fest. Not all of them are equally useful.
Wishlists Earned During the Fest
This is the headline number. How many people added your game to their wishlist between Day 1 and Day 7 of the festival. It's the metric everyone talks about, and it does matter, but it doesn't tell the whole story on its own.
Demo Downloads and Unique Players
How many people downloaded your demo, and how many actually launched it. These numbers are almost always different, sometimes dramatically so. A large gap between downloads and launches usually means players downloaded the demo with good intentions but ran out of time during the festival week.
Played and Wishlisted vs. Wishlisted Without Playing
This is the brain-breaking stat. Valve tells you how many people both played your demo AND wishlisted, versus how many wishlisted without ever touching the demo.
The numbers from Zukowski's February 2025 survey tell a consistent story across all tiers:
| Tier | Median Demo Players | Played and Wishlisted | Percent Who Wishlisted After Playing | Total Wishlists | Wishlists Without Playing |
|---|---|---|---|---|---|
| Diamond (10K+) | 15,039 | 4,834 | 32% | 15,037 | 68% |
| Gold (7K-10K) | 10,436 | 1,540 | 15% | 8,208 | 81% |
| Silver (1K-7K) | 1,855 | 363 | 20% | 1,972 | 81% |
| Bronze (0-1K) | 303 | 54 | 18% | 455 | 88% |
The majority of your wishlists came from people who never played the demo. Even Diamond-tier games, the breakout hits of the festival, saw 68% of wishlists from non-players. For Bronze-tier games, that number was 88%.
This doesn't mean your demo was bad. It means your store page, capsule art, and tags did most of the conversion work. What developers who track these metrics consistently report is that capsule art quality correlates more strongly with wishlist conversion than demo length or feature completeness. The demo existed to unlock your visibility within Next Fest and to give content creators something to play and share.
Impressions from the Next Fest Sale Page
Valve tracks how many times your game appeared in Next Fest browsing carousels. This tells you how much visibility the algorithm gave you.
| Tier | Median Total Impressions |
|---|---|
| Diamond | 926,369 |
| Gold | 366,593 |
| Silver | 288,883 |
| Bronze | 92,845 |
Notice the gap between Diamond and Gold is enormous. And notice how close Silver and Bronze are. The algorithm rewards the top performers aggressively. If you hit a tipping point in the first two days, the system compounds your success. If you didn't, you got roughly the same baseline exposure as everyone else.
Follower Growth
Steam followers are separate from wishlists. Followers receive notifications when you post updates to your store page. They're a smaller, more engaged subset of your audience. Check your follower count before and after the fest. Zukowski noted that having approximately 7,400 followers (roughly equivalent to about 70,000 wishlists) was needed to reach the top 25 of the "Popular Upcoming" list during February 2025.
Content Creator Coverage
This one doesn't show up in Steamworks, but it's just as important. How many YouTube videos, Twitch streams, and articles featured your game during the fest? Cross-reference the publish dates of creator content with your daily wishlist data. Spikes in wishlists that correlate with specific videos tell you exactly which creators drove results.
Benchmarking: What "Good" Looks Like
Zukowski's tier system, based on wishlists earned during the festival, is the most practical benchmark available:
Diamond (10,000+ wishlists earned). You had a breakout fest. Your game is on the charts. You have serious momentum heading into launch. Games in this tier during February 2025 included a mix of horror, strategy, management, and a few genres you wouldn't expect (point-and-click adventure, walking simulator, autobattler). Two of the point-and-click games were sequels to established franchises, which is worth remembering.
Gold (7,000 to 9,999 wishlists earned). Strong performance. 7,000 wishlists earned in a single event is roughly what you need to hit the "Popular Upcoming" list at launch. You've validated market interest. The path to a successful launch is clear.
Silver (1,000 to 6,999 wishlists earned). You have something. The market responded, just not explosively. This is where most games land, and it's not a bad place to be. You have data to work with and a foundation to build on.
Bronze (0 to 999 wishlists earned). Something fundamental needs to change before launch. It could be your capsule art, your tags, your genre positioning, your store page copy, or the game's core concept. A Bronze result is your Game Over screen, not the end of the cartridge. You can continue from here, but not by pressing Start and doing the same thing again.
The Pre-Fest Wishlist Correlation
The most actionable finding in Zukowski's data is also the most uncomfortable: the tier you enter Next Fest with is almost always the tier you leave with.
| Wishlists Before Next Fest | Median Earned During Fest | Percentage Increase |
|---|---|---|
| 0-999 | 462 | 150% |
| 1,000-9,999 | 1,513 | 45% |
| 10,000-99,999 | 6,360 | 28% |
| 100,000+ | 23,731 | 13% |
Games entering with fewer than 1,000 wishlists earned a median of 462 more. That's a 150% increase percentage-wise, but on small numbers. No game in that bracket reached Diamond tier.
Games entering with 100,000+ wishlists earned a median of 23,731 more. The percentage increase is smaller (13%), but the absolute numbers are massive.
It takes wishlists to earn wishlists. Next Fest is a multiplier, not a generator. This is why our guide to building your Steam wishlist emphasizes starting your marketing campaign months before any festival.
Reading the Day-by-Day Data
The daily breakdown tells you more than the total.
Days 1-2: The Equal Playing Field. Since late 2024, Valve gives all participating games roughly equal visibility during the first two days. Carousels are randomized. Every game gets a shot. Your Day 1 and Day 2 impressions reflect this baseline.
Day 3: The Algorithm Takes Over. After 48 hours of data collection, Steam personalizes results based on player behavior. Games that performed well in the first two days see their impressions climb. Games that didn't see a drop.
Look at your daily impression and wishlist numbers. If your Day 3 numbers jumped significantly above Day 1, the algorithm recognized your game as a performer. In practice, developers who enter Next Fest with momentum from prior marketing efforts almost always see this Day 3 boost, while those starting cold rarely do. If they dropped, players saw your capsule art on Days 1-2 and chose not to engage.
This pattern is what makes pre-fest marketing so critical. The games that entered with existing momentum (content creator coverage, social media buzz, pre-existing wishlists) had higher Day 1 conversion rates, which triggered the algorithm boost on Day 3, which generated even more wishlists. It's a flywheel, and the first push has to come from you.
Zukowski's data showed Diamond-tier games seeing their daily impressions nearly triple from Day 1 to Day 3. Bronze-tier games saw theirs fall off a cliff. The algorithm isn't malicious. It's responding to what players want. But it concentrates success aggressively.
The Launch / Delay / Pivot Decision
This is the real reason you're reading this article. You have your numbers. Now what?
If You Hit Diamond or Gold
Launch when your game is ready. You have validated market interest. Your main risk is launching before the game is polished enough to earn positive reviews.
Don't rush to launch immediately after Next Fest because you think "momentum" requires it. Zukowski's research on the gap between Next Fest and the next major Steam sale shows that launching in that window means competing with dozens of other games daily, including high-profile titles. Your wishlists don't expire. Launch when you're ready.
Update your press kit with your Next Fest results. "50,000+ demo downloads during Steam Next Fest" is a credential that makes future press outreach more effective. Knowing how the wishlist system works helps you plan the optimal launch timing around notification cooldowns and sale events.
If You Hit Silver
You have something, but you have work to do. The question is whether the gap between Silver and Gold is fixable with marketing alone, or whether the game itself needs changes.
Look at your conversion data. If your impressions were reasonable but wishlists were low, your store page (capsule art, screenshots, description) isn't converting. That's a marketing problem with marketing solutions. Redesign your capsule. Rewrite your description. Update your screenshots.
If your impressions were low despite the randomized first two days, your tags might be wrong or your genre positioning unclear. Review the Next Fest subcategories. Did you appear where you expected? Were you competing in a subcategory dominated by games with much higher production values?
If You Hit Bronze
Something fundamental needs to change. This is the conversation nobody wants to have, but the data forces it.
Bronze doesn't necessarily mean your game is bad. It might mean your game is good but invisible. Common causes:
- Capsule art that doesn't communicate genre. At thumbnail size, can a stranger identify what kind of game this is in two seconds?
- Wrong tags. If your tags don't match Next Fest subcategories, you're a ghost in a machine.
- Weak hook. Your game might be good, but nothing about your store page gives someone a reason to stop scrolling.
- Saturated genre without differentiation. If you're the 400th pixel-art platformer, you need something that screams "this one is different" in the first screenshot.
One Bronze result doesn't mean you scrap everything. But two consecutive events (Next Fest plus one or two smaller festivals) with similar results is a pattern. Patterns demand honest evaluation.
Talk to the players who DID try your demo. What did they like? What confused them? What would they change? The feedback from a small but genuine audience is often more actionable than broad market data.
Case Studies
Do No Harm (Diamond, February 2025)
Entered with approximately 52,000 existing wishlists. Earned 45,655 during the fest, the highest of any game surveyed. The team attributed their success to a combination of a trailer released on GameTrailers about three weeks before the fest, PR outreach, and their demo going live on February 4th (well before the fest started on February 23rd). They also ran targeted ads to support their organic performance.
The takeaway: a well-timed trailer beat plus creator outreach plus early demo release created compounding momentum.
The King Is Watching and 9 Kings (Both Charted, February 2025)
Two similar pixel-art strategy games that found each other during the fest. Instead of treating each other as competition, they announced a joint bundle for launch. Both games climbed the charts. They turned a coincidence (similar themes, similar genres, both in the same fest) into a marketing advantage.
The takeaway: find allies at Next Fest. Games in your genre are collaborators, not competitors.
Backrooms Cleanup Crew (Diamond, February 2025)
Entered with just over 3,000 wishlists and earned over 10,000 during the fest, the lowest starting wishlist count to reach Diamond tier. The game was co-op horror with a built-in virality factor (the Backrooms meme). It hit all three of Zukowski's overperforming categories: horror, co-op, and viral premise.
The takeaway: genre selection matters. A lot. Some genres have built-in audiences on Steam that show up during Next Fest in force.
Post-Analysis Action Plan
Once you've digested the numbers:
- Update your press kit with Next Fest data (demo downloads, wishlists earned, any notable achievements)
- Send thank-you posts to your community with results (if they're good) or with specific feedback you're incorporating (if results were mixed)
- Contact your top-performing creators and start building the relationship for launch
- Decide on the demo's future (keep it live or pull it, with clear communication to players)
- Set your launch timeline based on what the data tells you, not based on hype cycles
- If Bronze: schedule honest conversations with advisors, other devs, or community members about what needs to change
Your Next Fest results are the most expensive market research you'll ever get for free. The event cost you weeks of preparation, emotional energy, and probably some sleep. The least you can do is read the results carefully and let them inform your next move.
Free Tool: Next Fest Readiness Score — Score your Next Fest preparation before and after the event to see where you can improve. Runs in your browser, no signup required.
Frequently Asked Questions
What's a "good" Next Fest result for a first-time developer?
Silver tier (1,000-7,000 wishlists earned) is where most games land, and it's not a bad result. You've validated that there's some market interest. The developers I've talked to who hit Silver typically had room to improve their capsule art or genre positioning rather than needing to rethink their entire game.
Should I keep my demo live after Next Fest ends?
It depends. If your demo converts well (check your "Played and Wishlisted" percentage), keep it live since it's working as a marketing tool. If players are downloading but not wishlisting, the demo might be hurting more than helping. Some developers pull the demo and communicate clearly: "Demo was Next Fest exclusive, wishlist to stay updated."
My wishlist numbers were low but player feedback was great. What does that mean?
This usually points to a visibility or store page problem, not a game problem. Your capsule art, tags, or screenshots may not be communicating what makes your game special. In practice, I've seen games transform their Next Fest performance simply by redesigning their capsule to better signal their genre.
How long should I wait after Next Fest to launch?
There's no magic timing. The old advice about "riding momentum" is mostly myth. Your wishlists don't expire. Launch when your game is polished enough to earn positive reviews. Rushing to launch while still buggy will hurt your long-term performance far more than a few months of delay.
Related Guides
This article is part of our series on steam next fest. Start with the complete guide:
Also in this series:
For real-world examples from the February 2026 edition, see Steam Next Fest 2026: What Actually Worked.
Benchmark data from Chris Zukowski's February 2025 Steam Next Fest survey (208 games out of 2,244 participants) at howtomarketagame.com. For pre-fest preparation, see our Steam Next Fest guide. For wishlist mechanics, see How Steam's Wishlist System Actually Works.