# Carto

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

- Steam appid: 1172450
- Developer: Sunhead Games
- Publisher: Balor Games
- Released: 2020 · Genre: Adventure · List price: $19.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $3.3k to $5.0k per month (mid $4.2k)
- Opportunity score: $6.6k/month at x1.60 dormancy multiplier
- Est. lifetime owners: 217.8k · Est. lifetime net revenue: $935.8k
- Review sentiment: 96% positive across 9358 reviews (7260 from Steam purchases)
- Review velocity: 38.7 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 3.7 years
- Last build shipped 10 months ago
- Last discounted 1 months ago, 7 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 | $7.5k |
| After VAT / sales tax (-13% blended) | $6.6k |
| After refunds (-9.5% median) | $5.9k |
| Net to developer (after Steam 30%) | $4.2k |

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

116, 58, 64, 79, 83, 88, 103, 71, 35, 45, 65, 70, 91, 53, 65, 44, 43, 62, 35, 60, 29, 19, 44, 45

## Estimated acquisition range

$99.7k to $199.4k (2-4x the trailing net annuity of $49.8k/year). Same error range applies.

## Analyst notes (AI-assisted)

A charming tile-based map-rearrangement puzzle adventure where players reshape the world to solve environmental and narrative challenges.

Carto is a quiet performer generating $4.2k/mo residual revenue on a modest $20 price point, with 96% positive sentiment and consistent engagement despite minimal marketing footprint. For a publisher or platform holder seeking catalog depth in the puzzle-adventure space, the title's accessibility (cross-generational appeal, 9 languages), tight design, and absence of multiplayer/live-service overhead make it an attractive acquisition candidate. The developer (Sunhead Games, one-title studio) and publisher (Balor Games) suggest acquisition economics may be favorable.

- Most realistic play: acquisition
- Risk (market): One-title studio with no announced follow-up suggests limited production capacity or interest; acquirer inherits developer relationships but not a pipeline.
- Risk (other): Peak monthly revenue ($4.2k/mo mid estimate) is modest; return threshold for a full acquisition may require aggressive pricing or packaging with other IP.
- Risk (tech): Game is 10+ months old with no recent developer posts (44.5 months elapsed); platform drift or engine obsolescence may require porting investment within 2-3 years.

What players are asking for:
- Sequel or spiritual follow-up with new mechanics or world
- Mobile port (mentioned in scattered reviews as wishlist item)
- Expanded puzzle difficulty tiers or challenge modes
- Soundtrack availability (separately or in bundle)

Suggested first moves:
1. Secure exclusive publishing rights and rights to develop sequels; negotiate with Sunhead Games (one-person or very small team) on IP ownership and porting commitments.
2. Conduct platform drift audit: test on current-gen consoles and mobile; identify localization and QA overhead for a 2025-2026 remaster or reissue.
3. Develop a lightweight post-acquisition strategy: consider a mobile port (iOS/Android), a physical edition, or a Nintendo Switch exclusive re-release to unlock new audience cohorts without new content production.

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/1172450
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.