# Mashiroiro Symphony HD -Sana Edition-

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

- Steam appid: 2737980
- Developer: Palette
- Publisher: Shiravune
- Released: 2024 · Genre: Adventure · List price: $29.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.5k to $3.8k per month (mid $3.1k)
- Opportunity score: $6.0k/month at x1.90 dormancy multiplier
- Est. lifetime owners: 13.9k · Est. lifetime net revenue: $122.0k
- Review sentiment: 92% positive across 462 reviews (435 from Steam purchases)
- Review velocity: 14.3 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.2 years
- Studio quiet across its whole catalog
- Last build shipped 27 months ago
- Store page localized in only 3 language(s)
- Last discounted 0 months ago, 9 sales in the last 12 months
- Proven demand elasticity: x1.4 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $5.7k |
| After VAT / sales tax (-13% blended) | $5.0k |
| After refunds (-9.5% median) | $4.5k |
| Net to developer (after Steam 30%) | $3.1k |

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

7, 9, 12, 22, 16, 22, 8, 8, 6, 7, 11, 10, 7, 8, 8, 6, 13, 6, 13, 13, 13, 12, 17, 18

## Estimated acquisition range

$75.4k to $150.8k (2-4x the trailing net annuity of $37.7k/year). Same error range applies.

## Markets by review language

- japanese: 0% (game NOT localized in this language)
- schinese: 91%
- brazilian: 0% (game NOT localized in this language)
- english: 8%
- russian: 0% (game NOT localized in this language)

## Analyst notes (AI-assisted)

A 2024 visual novel from Shiravune featuring the Sana character route from the Mashiroiro Symphony franchise, positioned as a standalone HD remaster.

This title generates $3.1k/mo residual revenue on a modest $30 price point with 92% positive reception, driven by a passionate but niche visual-novel audience. The game sits in quiet post-launch equilibrium: no developer communication in 27 months, but active discount cycles (9 promotions in 12 months) and steady review velocity (~14/mo) suggest healthy long-tail demand. Interest is strongest in Chinese and Japanese-speaking regions. A potential acquisition or publishing partner could extract value through regional localization expansion (Russian gap identified), seasonal sale coordination, or bundling within a larger visual-novel catalog; revival upside is limited unless Palette plans substantive content updates.

- Most realistic play: publishing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Mashiroiro Symphony is an extant visual-novel franchise; rights to character IP, underlying story, and derivative works likely held by original author or Shiravune parent entity, constraining standalone resale or format adaptation.
- Risk (market): Niche visual-novel audience with limited mainstream appeal; elasticity of 1.42 suggests price sensitivity, making margin expansion difficult without alienating core buyers.
- Risk (other): Developer studio status listed as 'fading' with no public updates in 27 months; unclear whether future content, bugfixes, or porting support will be resourced.

What players are asking for:
- Clarification on why Sana's route was released as a separate game rather than DLC
- Additional character routes or story expansions beyond Sana's content
- Wider platform availability (console ports or other storefronts)

Suggested first moves:
1. Audit Shiravune's IP agreements and confirm rights holder consent for any regional expansion, bundling, or porting initiative.
2. Commission Russian localization (0.78% loc gap) and test discount elasticity in CIS markets; recent deep sale (0.45 months ago) at 40% off suggests room to systematize seasonal promotions.
3. Evaluate bundling potential within a visual-novel anthology or subscription service targeting Chinese and Japanese-language players, where review concentration (353 Simplified Chinese reviews) indicates untapped regional demand.

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/2737980
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.