# Pennon and Battle

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

- Steam appid: 2915660
- Developer: PB Studio
- Publisher: Luckycalf
- Released: 2025 · Genre: Adventure · List price: $18.99
- Deal grade: D (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $488 to $732 per month (mid $610)
- Opportunity score: $610/month at x1.00 dormancy multiplier
- Est. lifetime owners: 5.6k · Est. lifetime net revenue: $35.5k
- Review sentiment: 69% positive across 182 reviews (174 from Steam purchases)
- Review velocity: 3.8 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 2 months ago
- Last build shipped 9 months ago
- Store page localized in only 3 language(s)
- 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 | $1.1k |
| After VAT / sales tax (-13% blended) | $964 |
| After refunds (-9.5% median) | $872 |
| Net to developer (after Steam 30%) | $610 |

## Monthly review counts, oldest to newest (20 months)

32, 24, 10, 13, 11, 4, 4, 3, 7, 5, 7, 2, 4, 29, 5, 2, 5, 4, 5, 2

## Missed seasonal-sale revenue (modeled)

Skipped 7 Steam seasonal sale window(s) in the last 20 months. Running a -50% discount in those windows is modeled at +$6.6k 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: 1% (game NOT localized in this language)
- german: 4% (game NOT localized in this language)
- english: 38%
- koreana: 1% (game NOT localized in this language)
- russian: 5% (game NOT localized in this language)
- schinese: 51%

Localization gap: 11% 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/2915660
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.