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ABSOLUTELY TOTAL COINCIDENCE that this announced right after Steam's new tiered revenue structure comes into effect, eh? Announcing the Epic Games Store Developers receive 88% of revenue. There are no tiers or thresholds. Epic takes 12%. And if you’re using Unreal Engine, Epic will cover the 5% engine royalty for sales on the Epic Games store, out of Epic’s 12%.
Epic announced "a sweeping change" to the marketplace yesterday that will boost creators' take on their sales to 88 percent, a significantly above-standard rate increase that applies to all transactions going forward—and (this is the really good bit) to all previous transactions as well, all the way back to the launch of the UE Marketplace in 2014.