# AER Memories of Old

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

- Steam appid: 331870
- Developer: Forgotten Key
- Publisher: Daedalic Entertainment
- Released: 2017 · Genre: Adventure · List price: $14.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.3k to $1.9k per month (mid $1.6k)
- Opportunity score: $3.4k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 277.4k · Est. lifetime net revenue: $893.7k
- Review sentiment: 86% positive across 7715 reviews (5043 from Steam purchases)
- Review velocity: 20.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 8.5 years
- Studio inactive: no public activity across 1 tracked titles
- Last build shipped 8.3 years ago
- Last discounted 1 months ago, 11 sales in the last 12 months

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $2.9k |
| After VAT / sales tax (-13% blended) | $2.5k |
| After refunds (-9.5% median) | $2.3k |
| Net to developer (after Steam 30%) | $1.6k |

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

29, 26, 23, 28, 31, 47, 20, 26, 24, 23, 25, 26, 19, 16, 33, 17, 22, 17, 19, 31, 14, 23, 16, 17

## Estimated acquisition range

$38.7k to $77.3k (2-4x the trailing net annuity of $19.3k/year). Same error range applies.

## Analyst notes (AI-assisted)

A 2017 exploration-adventure about flying through a beautiful archipelago, seeking memories in puzzles and hidden locations.

AER has generated $894k lifetime on modest player counts and remains quietly profitable at $1,611/mo residual. The title sits at 85% positive reviews with a strong, vocal community praising its relaxation factor and flight mechanics, but it suffers from pacing issues, short playtime (3-5h), and narrative ambition that doesn't quite land. This is a acquisition candidate for indie publishers seeking catalog depth and low-risk monthly cash, but revival potential is limited unless a meaningful IP extension or sequel emerges.

- Most realistic play: acquisition
- Risk (market): Highly elastic (1.15) and dependent on sale cycles; 11 discounts in 12 months suggest pricing pressure and audience saturation at $14.99 full price.
- Risk (other): Developer Forgotten Key is inactive (102 months since last update); no studio support for patches, content, or community engagement.
- Risk (other): Niche appeal ceiling: players consistently note short runtime and puzzle frustration; positioning as 'relaxation game' alienates action/narrative seekers.

What players are asking for:
- Longer content or sequel with refined puzzle design
- Better landing/flight precision controls
- More varied, less repetitive exploration areas

Suggested first moves:
1. Audit IP and trademark ownership; confirm no encumbrances before acquisition. Verify Daedalic Entertainment's willingness to divest.
2. Run a 6-month discount test at 40-60% to measure true floor demand and build a baseline for seasonal sale planning; residual_low suggests $1,289/mo is achievable.
3. Commission a postmortem interview with Forgotten Key or Daedalic to identify why developer went silent; assess whether IP can be revived under new studio leadership or repositioned as a franchise anchor.

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/331870
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.