# Evoland Legendary Edition

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 1020470
- Developer: Shiro Games
- Released: 2019 · Genre: Action · List price: $19.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.0k to $1.5k per month (mid $1.3k)
- Opportunity score: $2.7k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 56.3k · Est. lifetime net revenue: $241.8k
- Review sentiment: 81% positive across 2689 reviews (1407 from Steam purchases)
- Review velocity: 12.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 4.8 years
- Studio active elsewhere (8 titles tracked), so this one may welcome a partner
- Last build shipped 4.9 years ago
- 48% of reviews come from key activations (excluded from revenue estimates)
- Store page localized in only 3 language(s)
- Last discounted 0 months ago, 12 sales in the last 12 months

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $2.3k |
| After VAT / sales tax (-13% blended) | $2.0k |
| After refunds (-9.5% median) | $1.8k |
| Net to developer (after Steam 30%) | $1.3k |

## Monthly review counts, oldest to newest (24 months)

7, 10, 10, 13, 18, 20, 7, 23, 16, 23, 17, 14, 21, 14, 7, 16, 9, 15, 6, 17, 10, 14, 13, 12

## Estimated acquisition range

$30.9k to $61.9k (2-4x the trailing net annuity of $15.5k/year). Same error range applies.

## Analyst notes (AI-assisted)

A two-game anthology (Evoland 1 & 2) that parodies video game history through playable genre pastiche, from 8-bit to modern 3D.

Evoland Legendary Edition generates $1,289/mo in residual revenue on a modest $19.99 price point with 81% positive sentiment, suggesting a stable, if quiet, catalog title with genuine replay appeal. The bundle's novelty hook (genre-hopping) and craftsmanship (e.g., motion-input fighting sequences) resonate with a niche who replay it repeatedly. At lifetime net $242k on 56k units, this is neither blockbuster nor dead weight; it's a disciplined indie franchise that rewards revival through updated marketing or platform bundling, rather than aggressive discounting.

- Most realistic play: revival
- Risk (market): Novelty-driven sales peaked at launch (58 months ago); recent discount activity is minimal, suggesting ceiling on price-elasticity gains without content refresh.
- Risk (other): High key-share (48%) indicates half of revenue flows through third-party resellers, complicating visibility and pricing control.

What players are asking for:
- Evoland 3 or new entries in the series to refresh the novelty hook
- Steam achievements parity and persistent unlocks across playthroughs
- Quality-of-life polish for Evoland 2 (pacing, UI)

Suggested first moves:
1. Audit IP ownership and franchise roadmap with Shiro Games; explore whether a sequel or spiritual successor is planned or could be greenlit via publishing partnership.
2. Test marketing angles (nostalgia, speedrun/challenge community, education) via limited paid campaigns and Reddit/indie gaming forums to measure demand elasticity above current $19.99 floor.
3. Investigate bundle opportunities (Game Pass, Humble Bundle, cross-promotion with thematically aligned indie titles like Undertale, Outer Wilds) to extend reach without cannibalizing direct sales.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/1020470
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.