# Kao the Kangaroo

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

- Steam appid: 1370140
- Developer: Tate Multimedia
- Released: 2022 · Genre: Action · List price: $29.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.8k to $2.8k per month (mid $2.3k)
- Opportunity score: $3.5k/month at x1.50 dormancy multiplier
- Est. lifetime owners: 27.5k · Est. lifetime net revenue: $205.8k
- Review sentiment: 77% positive across 1178 reviews (860 from Steam purchases)
- Review velocity: 12.3 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 1 months ago
- Studio active elsewhere (5 titles tracked), so this one may welcome a partner
- Last build shipped 3.3 years ago
- Last discounted 1 months ago, 11 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 | $4.2k |
| After VAT / sales tax (-13% blended) | $3.6k |
| After refunds (-9.5% median) | $3.3k |
| Net to developer (after Steam 30%) | $2.3k |

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

13, 10, 8, 13, 11, 14, 9, 12, 8, 5, 10, 7, 12, 51, 18, 28, 13, 12, 14, 18, 8, 14, 7, 13

## Estimated acquisition range

$55.3k to $110.7k (2-4x the trailing net annuity of $27.7k/year). Same error range applies.

## Analyst notes (AI-assisted)

A 2022 3D platformer remake of the classic PS2 Kao the Kangaroo franchise, targeting nostalgic players and families.

Kao has hit steady state at $2.3k/mo residual revenue with modest but stable engagement (12 reviews/mo, 77% positive). The franchise carries nostalgia IP value and strong mechanical fundamentals, but mainstream awareness remains limited and voice-acting polish lags expectations at current price. Revival opportunity exists if positioned as a family/casual title with seasonal discounts; acquisition makes sense only if a buyer seeks dormant 90s-IP catalog depth.

- Most realistic play: revival
- Risk (market): 3D platformer genre is crowded; Kao lacks AAA marketing reach despite 77% positive sentiment, suggesting positioning or awareness gap rather than quality problem.
- Risk (tech): Voice acting noted as weak point in top reviews; re-recording for key markets could improve word-of-mouth but adds cost.
- Risk (other): No developer communication in 24 days despite active studio status; engagement cadence is low relative to post-launch expectations.

What players are asking for:
- Higher voice acting quality, especially for English localization
- Seasonal cosmetics or cosmetic DLC packs
- Longer post-game content or challenge modes

Suggested first moves:
1. Audit voice-acting remaster cost for top 3-4 languages and A/B test against current build via regional discount campaign.
2. Model seasonal sales strategy: Kao performed 11 discounts in 12 months with 80% peak depth; test quarterly family/holiday positioning (Easter, back-to-school, holiday bundles) to sustainably lift $2.3k baseline.
3. Evaluate licensing IP for merchandise or mobile spin-off; 27.5k lifetime units and strong family appeal suggest untapped catalog monetization if Tate Multimedia retains publishing rights.

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/1370140
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.