# Blair Witch

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

- Steam appid: 1092660
- Developer: Bloober Team SA
- Publisher: Bloober Team NA
- Released: 2019 · Genre: Adventure · List price: $29.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $5.8k to $8.6k per month (mid $7.2k)
- Opportunity score: $10.8k/month at x1.50 dormancy multiplier
- Est. lifetime owners: 256.1k · Est. lifetime net revenue: $1.7M
- Review sentiment: 79% positive across 8099 reviews (6403 from Steam purchases)
- Review velocity: 44.7 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 2 months ago
- Studio active elsewhere (5 titles tracked), so this one may welcome a partner
- Last build shipped 6.1 years ago
- Last discounted 1 months ago, 10 sales in the last 12 months
- Proven demand elasticity: x1.6 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $13.1k |
| After VAT / sales tax (-13% blended) | $11.4k |
| After refunds (-9.5% median) | $10.3k |
| Net to developer (after Steam 30%) | $7.2k |

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

79, 39, 42, 45, 72, 48, 26, 84, 33, 63, 47, 56, 80, 37, 77, 54, 82, 66, 59, 44, 39, 32, 53, 41

## Estimated acquisition range

$172.8k to $345.5k (2-4x the trailing net annuity of $86.4k/year). Same error range applies.

## Analyst notes (AI-assisted)

A first-person psychological horror game set in the Blair Witch universe where players navigate a dark forest with their dog, uncovering the franchise's lore through a 4-6 hour campaign.

Blair Witch generated $1.65M lifetime on 256K units and still earns $7.2K/mo despite zero recent marketing or dev activity. The 79% positive rate and devoted horror audience suggest dormant appeal, but technical debt (5-year-old reported bugs affecting core mechanics like the camcorder view and dog interaction) and thin gameplay (walking simulator criticisms recur) limit acquisition upside unless paired with a revival roadmap. Best suited for a publisher willing to patch legacy issues and bundle with Bloober's stronger recent titles rather than as a standalone acquisition.

- Most realistic play: watch
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Game is built on the Blair Witch franchise (originally a film property); rights to expand or continue are likely held by Lionsgate or successor, limiting standalone monetization.
- Risk (tech): Players report multi-year-old bugs (camcorder display glitching, dog interaction locks, mouse sync issues) still present; unfixed legacy issues may require significant engineering investment.
- Risk (market): Genre polarization: core players praise atmospheric immersion, but walking-simulator fatigue and pacing complaints suggest limited mainstream appeal beyond horror enthusiasts.

What players are asking for:
- Bug fixes for camcorder display, dog interaction, and mouse cursor sync
- Clarity on gameplay loop and pacing to reduce early abandonment
- New Game+ content or replay incentives (some players note secret ending exists but is obscure)

Suggested first moves:
1. Audit the three reported technical regressions (camcorder view, dog interaction, mouse sync) and scope a lightweight patch; even a small stability release could lift sentiment and prolong residual life.
2. Map IP licensing terms with the Blair Witch rights holder to understand bundling or sequel potential before committing to deeper investment.
3. Profile the 256K-unit cohort by region and platform (Windows/console) to identify whether dormancy is even across segments or concentrated; console ports or regional repositioning may be lower-cost revival levers than new content.

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/1092660
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.