# Mount & Blade

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

- Steam appid: 22100
- Developer: TaleWorlds Entertainment
- Released: 2008 · Genre: Indie · List price: $9.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $809 to $1.2k per month (mid $1.0k)
- Opportunity score: $2.1k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 398.5k · Est. lifetime net revenue: $855.7k
- Review sentiment: 92% positive across 6711 reviews (5313 from Steam purchases)
- Review velocity: 18.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 6.6 years
- Studio active elsewhere (4 titles tracked), so this one may welcome a partner
- Last build shipped 10.1 years ago
- Last discounted 1 months ago, 6 sales in the last 12 months

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $1.8k |
| After VAT / sales tax (-13% blended) | $1.6k |
| After refunds (-9.5% median) | $1.4k |
| Net to developer (after Steam 30%) | $1.0k |

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

23, 20, 16, 24, 35, 24, 21, 14, 16, 12, 23, 30, 15, 22, 25, 18, 23, 26, 18, 19, 22, 18, 13, 23

## Estimated acquisition range

$24.3k to $48.5k (2-4x the trailing net annuity of $12.1k/year). Same error range applies.

## Analyst notes (AI-assisted)

Medieval sandbox RPG where player agency and emergent storytelling drive a devoted but aging community.

Mount & Blade remains a quiet earner at $1,011/mo residual revenue on minimal marketing spend, built on a franchise now eclipsed by its own sequel (Warband, 2010) and the anticipated Bannerlord (2022). The original's 92% positive score and freeform design have endured 16 years, but dev silence (79 months) and single-digit annual unit sales signal a title in managed decline. Only relevant for a publisher seeking legacy IP consolidation or a studio wanting to learn how sandbox mechanics sustain engagement with zero live-service overhead.

- Most realistic play: watch
- Risk (market): Warband (2010) and Bannerlord (2022) have cannibalized the original's audience; revival or acquisition would require clear differentiation.
- Risk (tech): 16-year-old engine and no developer activity in 6+ years raises porting and platform-support costs versus residual ROI.
- Risk (other): Community sampling is thin and includes non-English text; full sentiment analysis needed before any public-facing play.

Suggested first moves:
1. Audit Warband and Bannerlord sales overlap with the original to quantify actual audience size and willingness to revisit.
2. Map IP ownership and any outstanding royalty or publishing agreements with TaleWorlds; confirm whether acquisition of the original would require consent from Bannerlord rights holders.
3. Model low-cost maintenance scenario (critical bug fixes, platform parity) against $1,011/mo baseline to define break-even and whether a bundled franchise strategy (all three titles) yields better LTV.

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/22100
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.