Cold Waters

Killerfish Games · 2017 · $39.99 · Indie · deal grade A

Measured on 2026-10-02 16:56 UTC, 3 days ago. The whole catalog is re-measured daily; a game that just launched can move fast between passes.

Estimated net residual revenue: $2.5k to $3.8k per month
Opportunity: $5.9k per month at x1.90 dormancy
Estimated lifetime owners: 253.0k
87% positive across 4747 reviews · 14.6 reviews/month

Why it's flagged

Developer silent for 5.7 years
Studio active elsewhere (3 titles tracked), so this one may welcome a partner
Store page localized in only 1 language(s)
Last discounted 0 months ago, 5 sales in the last 12 months

Analyst notes (AI-assisted)

Note written 2026-08-25; the live figures above take precedence over any numbers in it.

Cold Waters is a submarine combat simulator where players command a single vessel through tactical warfare scenarios spanning the Cold War era.

Cold Waters occupies a rare niche: a well-reviewed indie sim with durable appeal (87% positive, 50% still-playing rate) and solid monthly residuals. The title generates modest but consistent revenue with minimal ongoing support costs, making it an attractive quiet earner for a publisher seeking low-maintenance catalog depth. The community values its AI depth and realism; the main friction point is difficulty tuning around player skill variance. Best fit is a publisher with existing submarine or military-sim audience or a studio looking to expand a dormant IP with modest fresh content. Most realistic play: publishing.

Risk: Extremely narrow audience (currently 67 concurrent players); any expansion depends on discoverability improvements or external hype.
Risk: Submarine sim genre demands high simulation fidelity; balance updates risk alienating the existing community if realism is compromised or oversimplified.
Risk: Developer has not posted in 67 months; reviving the title with new content or patches requires rebuild of creative continuity and community trust.

This case as Markdown · Estimates carry ±30-50% error per title.