The cost to build/maintain a competent platform is also not cheap even for the big boys like EA.
Otherwise everybody could just use Steam as advertising platform.
Of course I have no idea how contracts for big companies work
They changed their strat abt a decade ago.
If Nintendo ever exit the console market then we can have that conversation about Nintendo IP on Stream. But if that happens, and it is a massive IF, that’s not going to happen for a long time.
[0] - There were other Sega games published in 1995, but the examples I mention are titles specifically developed in house by Sega rather than titles by a 3rd party that they published.
[1] - Politely ignoring that whole NV1 debacle here, since it was in the end a very niche card.