The Asia Pacific (APAC) region, led by Japan, China and Korea, is the “dominant region when it comes to developers, publishers and consumers” of games like Souls.
That's according to data provided by Video Game Insights in a report that “examines the growth of Souls-like games as a subgenre” of games released since January 2015.
VGI analyzed the popularity of Souls likes by looking at the subgenre's Steam tag.
While the genre of Souls-like games is popular around the world, VGI found that between 2020 and 2025, the development of Souls-like games “has shifted heavily toward the Asia-Pacific region,” especially when looking at units sold.
The majority of sales growth on Steam in the Asia-Pacific region comes from AAA and AAA titles, with Black Myth: Wukong topping the chart with 20.3 million units.
Elden Ring came in second with 15.6 million copies, followed by Monster Hunter: World with 13 million copies. Dark Souls 3 and Hades rounded out the top five with sales of 9.1 million and 8.4 million units respectively.
VGI noted that since 2015, Souls-like sales on Steam were initially led by AAA studios, but “lost ground to AA developers in 2017” before “quickly regaining dominance.”
AAA games accounted for nearly three-quarters of sales in 2024, rising to 70% in 2025.
Looking at the rise in popularity of Souls-like games, VGI found that 2019 was the peak year for Souls-like games, led by Hades, Code Vein and Blasphemous, as well as AAA games like Sekiro.
The subgenre's development slowed between 2020 and 2021 due to the COVID-19 pandemic, with Nioh 2 being the only major release.
Souls-like games have become “mainstream” from 2022 to the present day, with Elden Ring and Black Myth: Wukong, as well as the growing influence of Chinese developers, publishers and players further fueling the subgenre's popularity.
Elsewhere, VGI also analyzed the frequency of appearances of games tagged Souls-like on Steam.
It found that from 2023 (263 games) to 2024 (371 games), the number of games released since 2015 that were labeled Souls increased by 41%.
The boom in tagged games was initially driven by indie games, with AAA and AAA games remaining “relatively stable over time,” according to the analytics firm.
“Overall, the data suggests a clear transition for games like Souls from a phase of AA-led innovation to widespread adoption and investment by AAA publishers,” VGI said.
In terms of player distribution, VGI found that Chinese players of games like Souls are the driving force behind the genre.
The country accounts for almost half of all players (47%), followed by the US with 23% and Germany with 5%.
The shares of Russia and Canada are 5% and 4% respectively, with the remaining 15% distributed among other regions.
“What began as a niche sub-genre defined by FromSoftware's clear vision has evolved into a global game design mainstay that is now firmly backed by AAA publishers, but still supported by inventive indie studios,” VGI said.
“The genre has demonstrated remarkable staying power, surviving moments of stagnation and evolving into a mainstream category with breakthrough successes such as Elden Ring and Black Myth: Wukong.”
It goes on to say, “Looking to the future, the continued appetite for challenging, skill-based gameplay suggests that Souls-likes will remain a creative testing ground, shaping combat systems, narrative design, and player engagement strategies across the gaming industry.”
The analytics firm also highlighted the importance of the Asia-Pacific region in the sub-genre's rise in popularity in recent years.
“Japan created this fund, but China and Korea have rapidly expanded their influence as creative hubs and important consumer markets,” it said.
“China in particular now accounts for almost half of the global player base, which means the long-term viability of any major Souls-like project. [game] often depends on his ability to captivate Chinese audiences.”
