# King's Bounty II

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

- Steam appid: 1135300
- Developer: Fulqrum Games
- Publisher: Fulqrum Publishing
- Released: 2021 · Genre: Adventure · List price: $39.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.5k to $3.7k per month (mid $3.1k)
- Opportunity score: $5.7k/month at x1.85 dormancy multiplier
- Est. lifetime owners: 142.7k · Est. lifetime net revenue: $1.4M
- Review sentiment: 62% positive across 5525 reviews (4460 from Steam purchases)
- Review velocity: 12.3 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 22 months
- Studio quiet across its whole catalog
- Last build shipped 4.6 years ago
- Last discounted 0 months ago, 10 sales in the last 12 months
- Proven demand elasticity: x1.4 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $5.6k |
| After VAT / sales tax (-13% blended) | $4.9k |
| After refunds (-9.5% median) | $4.4k |
| Net to developer (after Steam 30%) | $3.1k |

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

32, 9, 30, 32, 21, 20, 22, 22, 19, 14, 17, 19, 17, 17, 8, 15, 15, 14, 16, 7, 15, 8, 14, 14

## Estimated acquisition range

$73.8k to $147.6k (2-4x the trailing net annuity of $36.9k/year). Same error range applies.

## Analyst notes (AI-assisted)

King's Bounty II is a 2021 turn-based tactical RPG that attempts to revive the classic King's Bounty franchise with a full 3D overworld and strategic combat system.

King's Bounty II has generated $1.42M lifetime net revenue with steady residual income of $3,074/mo despite mixed critical reception (62% positive). The game sits dormant post-launch, with developer communication inactive for 22.5 months and no meaningful platform engagement, yet it continues to convert at a modest rate. For a savvy publisher, this represents either a low-risk catalog acquisition with proven recurring revenue, or a turnaround candidate if the IP and codebase can support a focused content update that addresses the franchise's traditional audience.

- Most realistic play: acquisition
- Risk (market): Core fan sentiment is negative; players cite deviation from King's Bounty formula as a core complaint, limiting ceiling for revival without substantial redesign.
- Risk (other): Developer (Fulqrum Games) is classified as fading with only one title in portfolio; no dev blog or patch activity in 22.5 months suggests limited capacity or commitment to ongoing support.
- Risk (tech): 54.8 months post-launch with zero recent discounts despite 10 promotions in 12 months suggests price sensitivity and demand volatility; full tech stack assessment required before acquisition.

What players are asking for:
- Return to the core King's Bounty formula that made the original series compelling
- Deeper strategic depth in unit composition and battlefield tactics
- Quality-of-life improvements and bug fixes

Suggested first moves:
1. Conduct technical and financial due diligence on the codebase, multiplayer infrastructure (if any), and ongoing platform commitments, given developer studio fade and 22.5-month communication silence.
2. Audit player feedback on Steam and fan forums to map concrete design gaps vs. original King's Bounty; assess whether a focused 'back to roots' update or new DLC could unlock latent demand.
3. Model acquisition economics under two scenarios: passive catalog hold (current $3,074/mo baseline) and active revival (estimated uplift from nostalgia-driven content drop or discount cycle reset).

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/1135300
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.