# Stronghold 2: Steam Edition

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

- Steam appid: 40960
- Developer: Firefly Studios
- Released: 2017 · Genre: Simulation · List price: $14.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.2k to $3.3k per month (mid $2.7k)
- Opportunity score: $3.7k/month at x1.35 dormancy multiplier
- Est. lifetime owners: 267.6k · Est. lifetime net revenue: $862.1k
- Review sentiment: 89% positive across 5752 reviews (4865 from Steam purchases)
- Review velocity: 33.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 13 months
- Studio active elsewhere (11 titles tracked), so this one may welcome a partner
- Last build shipped 10 months ago
- Last discounted 1 months ago, 11 sales in the last 12 months
- Proven demand elasticity: x1.2 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $4.9k |
| After VAT / sales tax (-13% blended) | $4.3k |
| After refunds (-9.5% median) | $3.9k |
| Net to developer (after Steam 30%) | $2.7k |

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

29, 24, 27, 34, 45, 49, 30, 40, 20, 30, 32, 41, 34, 26, 35, 27, 26, 30, 26, 23, 29, 33, 55, 37

## Estimated acquisition range

$65.4k to $130.8k (2-4x the trailing net annuity of $32.7k/year). Same error range applies.

## Analyst notes (AI-assisted)

Medieval castle-building real-time strategy sim where player satisfaction hinges entirely on preventing peasant revolts over minor resource gaps.

Stronghold 2 is a quiet but durable catalog title generating $2.7k/mo residual revenue on 268k lifetime sales and 89% positive reviews, anchored by nostalgic franchise loyalty rather than active development or marketing. The franchise itself remains valuable despite recent missteps (SH3, SH4), but this 2017 Steam Edition sits dormant: zero developer posts in 12+ months, minimal discount activity, and community feedback pointing to fixable balance and AI issues that persist across three releases. For a publisher with RTS restoration expertise or Stronghold IP interest, acquisition of Firefly Studios' catalog could unlock deferred sequel opportunity; for revival-focused buyers, modest QoL patches and a transparent roadmap could reactivate the 34 monthly reviews now trickling in.

- Most realistic play: acquisition
- Risk (market): RTS genre has contracted; franchise reputation damaged by SH3 and SH4 reception, creating uphill climb for positioning SH2 as flagship.
- Risk (tech): AI pathfinding and mission balance have been player pain points across three releases, suggesting systemic design issues not easily patched.
- Risk (other): Developer has gone radio-silent (12+ months); unclear whether Firefly Studios retains full rights or if Stronghold IP involves external stakeholders.

What players are asking for:
- Improved AI troop behavior and less punitive difficulty balancing in combat/siege missions
- Rework of timed mission design to reduce forced min-maxing
- Comparison-driven requests: players want SH2 features/quality parity in SH3/SH4
- Control/interface refinement relative to original Stronghold 1

Suggested first moves:
1. Confirm Firefly Studios' current IP ownership and willingness to transfer Stronghold 2 catalog; establish whether SH IP chain-of-title involves other stakeholders.
2. Analyze cost/benefit of targeted patches (AI retuning, mission rebalancing) against player engagement lift; even 10-15% uplift would justify $50-100k investment.
3. Evaluate SH2 as proof-of-concept for broader Stronghold restoration play: if acquisition includes full studio, assess viability of 'back-to-basics' SH5 leveraging SH2/Crusader DNA.

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/40960
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.