# Monster Train

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

- Steam appid: 1102190
- Developer: Shiny Shoe
- Publisher: Good Shepherd Entertainment
- Released: 2020 · Genre: Strategy · List price: $24.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $4.3k to $6.5k per month (mid $5.4k)
- Opportunity score: $8.1k/month at x1.50 dormancy multiplier
- Est. lifetime owners: 597.1k · Est. lifetime net revenue: $3.2M
- Review sentiment: 96% positive across 22914 reviews (19904 from Steam purchases)
- Review velocity: 40.3 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 3 months ago
- Studio active elsewhere (3 titles tracked), so this one may welcome a partner
- Last build shipped 4.9 years ago
- Last discounted 1 months ago, 8 sales in the last 12 months
- Proven demand elasticity: x2.0 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $9.8k |
| After VAT / sales tax (-13% blended) | $8.6k |
| After refunds (-9.5% median) | $7.7k |
| Net to developer (after Steam 30%) | $5.4k |

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

82, 63, 52, 84, 94, 79, 332, 425, 147, 142, 117, 87, 60, 53, 263, 77, 61, 64, 40, 60, 30, 51, 22, 39

## Estimated acquisition range

$130.0k to $260.0k (2-4x the trailing net annuity of $65.0k/year). Same error range applies.

## Analyst notes (AI-assisted)

Monster Train is a roguelike deck-builder where you defend a demonic train by summoning creatures and casting spells across three vertical lanes.

Monster Train has earned $3.2M lifetime and maintains $5.4K/mo residual revenue on 95.9% positive reviews with strong player retention signals (160h+ playtime common). The title occupies a genuine niche in the post-Slay the Spire deckbuilder market, yet receives minimal marketing attention or platform visibility. For a publisher seeking a profitable, low-maintenance catalog title with proven expansion potential (cosmetic/content DLC, console ports), this is an overlooked earner; for a studio seeking IP co-development partnerships, the Hellbound IP warrants exploration.

- Most realistic play: publishing
- Risk (market): Positioned explicitly as Slay the Spire alternative rather than category leader; growth ceiling likely capped by player perception of secondary status.
- Risk (tech): Developer silent for 3 months; small studio (2 titles) may lack bandwidth for meaningful live service or platform expansion without external support.
- Risk (other): Last major discount 1.4 months ago; elasticity 2.03 suggests high price sensitivity, but current $24.99 positioning may suppress casual discovery.

What players are asking for:
- Balance adjustments at high difficulty (Covenant 25 and above)
- Console versions (implied demand from deckbuilder genre trends)
- More hero/clan unlock paths to sustain end-game replayability
- Quality-of-life enhancements to onboarding clarity

Suggested first moves:
1. Audit DLC roadmap: cosmetic decks, cosmetic trains, seasonal reward passes are low-risk revenue multipliers with minimal dev lift for a dormant title.
2. Evaluate console port feasibility (Switch/PlayStation): deckbuilders show strong portable-gaming demand; 597K lifetime units suggest 15-25% attach potential.
3. Contact Shiny Shoe re: community council or seasonal balance patch cadence; 3-month silence is opportunity to re-engage with minimal investment and signal ongoing support.

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/1102190
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.