# Five Nights at Freddy's: Help Wanted 2

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

- Steam appid: 2287520
- Developer: Steel Wool Studios
- Publisher: ScottGames
- Released: 2023 · Genre: Indie · List price: $39.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $9.4k to $14.1k per month (mid $11.7k)
- Opportunity score: $19.3k/month at x1.65 dormancy multiplier
- Est. lifetime owners: 162.1k · Est. lifetime net revenue: $1.6M
- Review sentiment: 95% positive across 5358 reviews (5067 from Steam purchases)
- Review velocity: 47.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 21 months
- Studio active elsewhere (5 titles tracked), so this one may welcome a partner
- Last build shipped 20 months ago
- Last discounted 1 months ago, 2 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 | $21.3k |
| After VAT / sales tax (-13% blended) | $18.5k |
| After refunds (-9.5% median) | $16.7k |
| Net to developer (after Steam 30%) | $11.7k |

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

115, 126, 53, 206, 273, 118, 54, 40, 54, 43, 77, 56, 30, 21, 25, 39, 64, 75, 52, 48, 29, 37, 39, 77

## Estimated acquisition range

$281.2k to $562.4k (2-4x the trailing net annuity of $140.6k/year). Same error range applies.

## Markets by review language

- japanese: 0%
- schinese: 1%
- brazilian: 3%
- french: 2%
- english: 82%
- german: 2%
- koreana: 0%
- russian: 6% (game NOT localized in this language)
- spanish: 5%

## Analyst notes (AI-assisted)

VR anthology of Five Nights at Freddy's minigames and experiences, sequel to 2021's Help Wanted.

Help Wanted 2 is a quiet but stable earner: $11.7k/mo residual revenue on $1.6M lifetime, 95% positive sentiment, and active player reviews (47/mo average). The title sits in a narrow niche (VR+indie+licensed horror) with modest discount velocity (2 promotions in 12 months) and measurable elasticity (1.8), suggesting pricing power and room for strategic promotional campaigns. For a publisher or VR platform holder, the opportunity is straightforward: gentle catalog activation through seasonal sales, regional localization (5.6% Russian gap), and potential cross-promotion with broader FNaF IP. Acquisition by a major publisher unlikely given Scott Cawthon IP control; revival angles are limited.

- Most realistic play: publishing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Scott Cawthon retains Five Nights at Freddy's IP; any meaningful strategic move (pricing, content, platform expansion) requires Cawthon/ScottGames sign-off.
- Risk (market): Audience sentiment consistently compares Help Wanted 2 unfavorably to the first game on content depth, with players citing 'filler' minigames and preference for original FNaF experiences over new ones.
- Risk (tech): VR-first title limits addressable market; flat-mode support was a pain point (players explicitly praised its addition), suggesting platform constraints remain real.

What players are asking for:
- More original FNaF content; less minigame filler and fewer recycled experiences from Help Wanted 1
- Content depth and playtime value at current $39.99 price point
- Platform parity (flat-mode support was demanded and delivered; may indicate other access gaps)

Suggested first moves:
1. Run a promotional test (15-25% discount) timed to FNaF franchise events or streaming campaigns to measure elasticity (1.8 suggests strong response); track conversion and avg. session length.
2. Audit Russian and other non-English localization (5.6% Russian gap) and consider subtitle/voiceover expansion, given 267 Russian reviews show regional engagement.
3. Propose to ScottGames/Cawthon a content roadmap refresh: survey players on preferred new FNaF experiences vs. minigame types, and scope a modest DLC pack (cosmetics, new arcade games, secret routes) to justify retention and justify full price to fence-sitters.

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/2287520
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.