Reports indicate that God of War: Ragnarok is PlayStation Studios' top-earning game of the current generation, yet Marvel's Spider-Man 2 is not far behind.

Background: Four years of PS5 sales built a billion-dollar lead

A new report from Alinea Analytics places God of War: Ragnarok as the generation's best-selling and highest-earning PlayStation Studios game. The full top 10 list has a few nice surprises.

The game has sold just over 20 million copies and generated $1.4 billion in revenue, according to estimates. That tally covers four years since its PS5 release and two years since its PC port. The numbers also show part of the mix behind the total: about 27.5 percent of the 15 million copies it sold on console came from physical editions, and the action blockbuster sold a further 1.1 million copies this year alone.

This matters because it reframes the PlayStation Studios lineup as a long-tail business, not only a launch-week market. A game that arrived four years ago is still adding sales, and a PC port two years after its console debut extended the revenue curve. For readers, the practical signal is that flagship single-player franchises can remain financially relevant well beyond their first holiday season.

Development: Spider-Man 2 closes the gap while the top 10 takes shape

Kratos and Atreus only narrowly beat out perhaps the biggest superhero of them all: Marvel's Spider-Man 2. The game reportedly made $1.3 billion off 19.1 million copies across PS5 and PC. The Spidey sequel should keep swinging even higher as the years chug on, though. The report states that sales always surge during holiday months, and this year's big screen behemoth Spider-Man: Brand New Day led to an even bigger spike than usual.

The rest of the top 10 games published by PlayStation Studios this generation are:

• Gran Turismo 7: $841 million
• Helldivers 2: $786 million
• Horizon: Forbidden West: $485 million
• Ghost of Yotei: $410 million
• The Last of Us Part 1: $341 million
• Ratchet and Clank: Rift Apart: $334 million
• Stellar Blade: $316 million
• Astro Bot: $292 million

Two entries are especially surprising because they were developed by studios outside the PlayStation umbrella: Helldivers 2 and Stellar Blade. PlayStation still published both upon release, which means the top 10 is a publishing ranking, not purely an internal studio ranking.

Ghost of Yotei is another notable case. Sucker Punch's sequel has only been out for a year and did not get the benefit of a PC port, like many of its PS5 siblings. Its $410 million revenue is therefore especially impressive. That success could not save Sucker Punch from recent layoffs, however, adding a cautionary note to what the sales chart alone cannot show.

Latest Progress: Laufey moves to May 2027 as disc plans change

Those stats should bode well for the series' next romp, God of War: Laufey. Spoiler warning: the game sees Faye take the spotlight across a multi-mythological afterlife. It was recently delayed into May 2027. The timing gives PlayStation more runway before the next major entry in a franchise that is already generating $1.4 billion in estimated lifetime revenue, even if PlayStation moves away from PC ports for its signature single-player games.

PlayStation's decision to kill disc-based physical releases is the other key development. Analyst Rhys Elliott pointed to the bottom five games in the list, which together made $281.7 million this year alone. He said: "PlayStation wants those numbers to be bigger in the coming years, which is one of the reasons it's killing the disc (alongside the better margins it and publishers get through digital.)"

Current Stage: A billion-dollar catalog with an uncertain next chapter

The timeline now has three clear markers. God of War: Ragnarok is the generation's best-selling and highest-earning PlayStation Studios game, with just over 20 million copies and $1.4 billion in estimated revenue. Marvel's Spider-Man 2 is close behind at $1.3 billion and 19.1 million copies across PS5 and PC. God of War: Laufey is set for May 2027, while the top 10 also shows that holiday demand, PC ports, external development, physical editions, and disc policy are all still shaping PlayStation Studios' business.

For readers, the takeaway is not simply that one game sold the most. The report shows that this generation's PlayStation Studios ranking is a story of long-tail sales, seasonal spikes, and changing distribution. The next phase will be judged by whether Laufey can inherit that momentum, whether PC ports remain part of the plan, and whether removing discs can lift the smaller revenue lines that still total $281.7 million this year.