# Wordle 2

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

- Steam appid: 1386730
- Developer: PreoNus Games
- Publisher: Gigantum Games
- Released: 2020 · Genre: Casual · List price: $30.62
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $3.0k to $4.5k per month (mid $3.8k)
- Opportunity score: $7.9k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 11.5k · Est. lifetime net revenue: $75.8k
- Review sentiment: 58% positive across 550 reviews (384 from Steam purchases)
- Review velocity: 22.8 reviews/month (6-month average)

## Why it's flagged

- No developer announcement on record, ever
- Studio inactive: no public activity across 5 tracked titles
- Last build shipped 3.7 years ago

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $6.8k |
| After VAT / sales tax (-13% blended) | $5.9k |
| After refunds (-9.5% median) | $5.4k |
| Net to developer (after Steam 30%) | $3.8k |

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

2, 4, 8, 3, 12, 7, 7, 4, 5, 3, 3, 3, 1, 4, 1, 3, 2, 1, 4, 1, 49, 56, 17, 10

## Estimated acquisition range

$90.2k to $180.3k (2-4x the trailing net annuity of $45.1k/year). Same error range applies.

## Analyst notes (AI-assisted)

Wordle 2 is a word-puzzle game expanding on the original Wordle concept with themed categories and progressive difficulty grids.

Wordle 2 holds modest but steady residual revenue ($3.76K/mo mid-range) from a small, engaged base 44 months post-launch, with no discounting history and positive sentiment (58%). The title occupies a niche in the word-puzzle catalog and benefits from bundling with three predecessors. However, the franchise itself is not owned by PreoNus or Gigantum; the original Wordle was acquired by The New York Times in 2022, creating IP and brand-control risk that limits upside and complicates any acquisition or revival strategy.

- Most realistic play: watch
- Risk (other): Original Wordle IP is owned by The New York Times Company; sequels by third parties may face trademark and brand-association challenges if New York Times enforces rights.
- Risk (market): Zero revenue recorded in the past 12 months despite ongoing residual estimates suggests possible data gap or terminal decline in new player acquisition.
- Risk (other): Studio status flagged as inactive; no developer posts on record and four total titles suggest small, possibly dissolved team.

What players are asking for:
- Bundle continuity and discounts across all four Wordle versions
- Expanded category themes and difficulty customization
- Cross-platform sync or mobile release parity

Suggested first moves:
1. Verify The New York Times Company's current stance on third-party Wordle sequels and any license agreements with Gigantum or PreoNus.
2. Conduct rights audit on the four-title bundle to confirm ownership and any outstanding royalty or IP obligations.
3. If rights are clear, model a minimal-cost content refresh (new categories, seasonal events) to reignite player reviews and quantify uplift before acquisition or partnership commitment.

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/1386730
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.