# The Song of Saya

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

- Steam appid: 702050
- Developer: Nitroplus
- Publisher: JAST
- Released: 2019 · Genre: Adventure · List price: $14.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $14.1k to $21.2k per month (mid $17.7k)
- Opportunity score: $32.7k/month at x1.85 dormancy multiplier
- Est. lifetime owners: 370.4k · Est. lifetime net revenue: $1.2M
- Review sentiment: 89% positive across 10101 reviews (9259 from Steam purchases)
- Review velocity: 219.5 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 17 months
- Studio quiet across its whole catalog
- Last build shipped 6.8 years ago
- Store page localized in only 3 language(s)

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $32.1k |
| After VAT / sales tax (-13% blended) | $27.9k |
| After refunds (-9.5% median) | $25.3k |
| Net to developer (after Steam 30%) | $17.7k |

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

134, 86, 96, 156, 221, 223, 112, 258, 119, 106, 136, 245, 143, 95, 268, 239, 276, 257, 223, 197, 178, 233, 186, 300

## Estimated acquisition range

$424.3k to $848.7k (2-4x the trailing net annuity of $212.2k/year). Same error range applies.

## Markets by review language

- french: 1% (game NOT localized in this language)
- russian: 9% (game NOT localized in this language)
- schinese: 54%
- german: 0% (game NOT localized in this language)
- english: 32%
- koreana: 1%
- spanish: 2% (game NOT localized in this language)
- japanese: 0% (game NOT localized in this language)
- brazilian: 2% (game NOT localized in this language)

Localization gap: 13% of measured reviews are written in languages the game does not support (top: russian). Localizing is likely immediate market expansion.

## Analyst notes (AI-assisted)

A 2019 visual novel by Nitroplus about a man whose perception of reality warps after brain surgery, exploring isolation and the nature of love through transgressive psychological horror.

Saya no Uta sits in a narrow but durable niche: a landmark VN with 370k lifetime units, 89% positive reviews, and $17.7k/mo residual revenue despite zero marketing spend in 16 months. The community is polarized but deeply engaged, split between those who recognize it as a thematic masterwork and those who see shock value obscuring narrative substance. For a publisher or licensor seeking high-quality Japanese indie IP with established critical reputation and loyal (if small) recurring revenue, this represents a quiet win; for acquirers seeking growth, the 81-month age and flat sales curve suggest limited upside without significant creative repositioning.

- Most realistic play: publishing
- Risk (market): Content involves graphic sexual violence and body horror presented without didactic framing; regional bans (especially China despite 4.6k Chinese reviews) and platform policy shifts could affect distribution.
- Risk (tech): Built on aging VN engine; localization gap in Russian (13.3%) suggests untapped regional revenue but also maintenance overhead.
- Risk (other): Studio Nitroplus is marked fading with 3 total titles; developer engagement dormant (16.9 months since last post), limiting support for ports, remasters or expanded editions.

What players are asking for:
- Extended narrative content and deeper character backstory (especially Fuminori's med school circle)
- Meaningful gameplay choices beyond the 2 decision points that exist now
- Restoration or clarification of content relationships between main game and 18+ patch

Suggested first moves:
1. Audit Russian localization completeness and cost of native release to capture 13.3% loc gap; regional pricing test could yield $2-4k/mo incremental with minimal spend.
2. Assess Nitroplus IP asset portfolio and founder intentions (IP still live or reversion possible); publishing deal contingent on confirming perpetual rights and update authority.
3. Commission or conduct brief audience survey on appetite for prequel/side story VN or manga series set in the same universe (leveraging established worldbuilding and soundtrack); test via Kickstarter or publisher roadmap announcement to validate $32.7k/mo opportunity value.

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/702050
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.