# Song of Nunu: A League of Legends Story

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

- Steam appid: 1333200
- Developer: Tequila Works
- Publisher: Riot Forge
- Released: 2023 · Genre: Adventure · List price: $29.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $3.0k to $4.6k per month (mid $3.8k)
- Opportunity score: $7.2k/month at x1.90 dormancy multiplier
- Est. lifetime owners: 87.4k · Est. lifetime net revenue: $653.7k
- Review sentiment: 94% positive across 3117 reviews (2732 from Steam purchases)
- Review velocity: 20.3 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.7 years
- Studio quiet across its whole catalog
- Last build shipped 33 months ago
- Last discounted 1 months ago, 4 sales in the last 12 months
- Proven demand elasticity: x1.8 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $6.9k |
| After VAT / sales tax (-13% blended) | $6.0k |
| After refunds (-9.5% median) | $5.4k |
| Net to developer (after Steam 30%) | $3.8k |

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

28, 25, 14, 38, 103, 64, 28, 39, 34, 20, 18, 82, 25, 21, 38, 15, 37, 33, 24, 32, 20, 9, 8, 29

## Estimated acquisition range

$91.2k to $182.5k (2-4x the trailing net annuity of $45.6k/year). Same error range applies.

## Analyst notes (AI-assisted)

A charming League of Legends story-driven puzzle platformer centered on a young boy and his yeti companion navigating a winter world.

Song of Nunu earned $654k lifetime on 87k units with a 94% positive rating and maintains $3.8k/mo residual revenue 33 months post-launch. The title demonstrates strong, durable appeal beyond the LoL fanbase and sits in a quiet phase ideal for revival marketing or bundling into catalog plays. However, it is locked behind Riot Forge's publishing agreement and licensed to League IP, making standalone acquisition unrealistic without Riot's involvement.

- Most realistic play: licensing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Riot Games owns League of Legends and likely controls sequel, remake, and merchandising rights; any material revival requires Riot consent and may trigger renegotiation of publishing economics.
- Risk (market): Studio status flagged as 'fading' with only 3 titles total; Tequila Works may lack bandwidth or focus to support post-launch content or ports.
- Risk (other): Game peaked at 103 sales in one 24-month period month, then dropped to single digits; velocity suggests natural lifecycle decay rather than active marketing support.

What players are asking for:
- Port to console platforms (Nintendo Switch, PlayStation, Xbox mentioned in sentiment patterns)
- Additional story content or cosmetics tied to League universe events
- Sequel or spin-off with other LoL champions
- Accessibility options (difficulty settings, colorblind modes)

Suggested first moves:
1. Contact Riot Games to explore Riot Forge licensing terms, console port rights, and appetite for a coordinated revival campaign tied to a League season event or IP expansion.
2. Audit Tequila Works' current capacity: determine if they can execute a Nintendo Switch port (highest-probability expansion given puzzle-platformer genre fit and fanbase geography).
3. Conduct cohort analysis on the 87k installed base: identify which players came from LoL and which from mainstream discovery, then design targeted re-engagement (sale, DLC, or free weekend) accordingly.

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/1333200
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.