# The Midnight Walk

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

- Steam appid: 2863640
- Developer: MoonHood
- Publisher: Fast Travel Games
- Released: 2025 · Genre: Adventure · List price: $29.99
- Deal grade: C (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $14.4k to $21.6k per month (mid $18.0k)
- Opportunity score: $18.0k/month at x1.00 dormancy multiplier
- Est. lifetime owners: 84.3k · Est. lifetime net revenue: $847.3k
- Review sentiment: 93% positive across 2866 reviews (2633 from Steam purchases)
- Review velocity: 71.5 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 6 months ago
- Last build shipped 14 months ago
- Last discounted 1 months ago, 10 sales in the last 12 months

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $32.6k |
| After VAT / sales tax (-13% blended) | $28.4k |
| After refunds (-9.5% median) | $25.7k |
| Net to developer (after Steam 30%) | $18.0k |

## Monthly review counts, oldest to newest (15 months)

881, 221, 204, 92, 113, 123, 209, 181, 213, 63, 64, 94, 53, 53, 102

## Missed seasonal-sale revenue (modeled)

Skipped 1 Steam seasonal sale window(s) in the last 15 months. Running a -50% discount in those windows is modeled at +$26.3k net in total, assuming a unit uplift of x3.0 (industry-typical for old catalog titles). Same ±30-50% error range applies.

## Markets by review language

- french: 5%
- english: 70%
- koreana: 1%
- russian: 10% (game NOT localized in this language)
- german: 4%
- spanish: 3% (game NOT localized in this language)
- japanese: 1%
- schinese: 4%
- brazilian: 2% (game NOT localized in this language)

Localization gap: 16% of measured reviews are written in languages the game does not support (top: russian). Localizing is likely immediate market expansion.

## 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/2863640
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.