# Adventure Time: Pirates of the Enchiridion

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

- Steam appid: 728240
- Developer: Climax Studios
- Publisher: Outright Games Ltd.
- Released: 2018 · Genre: Adventure · List price: $24.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.5k to $2.3k per month (mid $1.9k)
- Opportunity score: $3.9k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 46.6k · Est. lifetime net revenue: $250.3k
- Review sentiment: 90% positive across 1225 reviews (932 from Steam purchases)
- Review velocity: 14.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 8.1 years
- Studio quiet across its whole catalog
- Last build shipped 7.9 years ago

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $3.4k |
| After VAT / sales tax (-13% blended) | $3.0k |
| After refunds (-9.5% median) | $2.7k |
| Net to developer (after Steam 30%) | $1.9k |

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

10, 1, 11, 13, 9, 4, 9, 7, 17, 7, 10, 20, 11, 64, 23, 21, 24, 37, 14, 19, 8, 15, 17, 11

## Estimated acquisition range

$45.1k to $90.2k (2-4x the trailing net annuity of $22.6k/year). Same error range applies.

## Analyst notes (AI-assisted)

A 2018 Adventure Time licensed RPG with original voice acting and turn-based combat, developed by Climax Studios for console and PC.

Pirates of the Enchiridion remains mechanically sound and narratively faithful to its source material, generating $1,880/mo residual revenue on a 70% discount with a 90% positive review ratio. The title's primary value lies not in acquisition but in understanding Outright Games' catalog management of mid-tier licensed IP; studio status is listed as fading, and the developer (Climax Studios) has limited recent output. Revival or publishing partnerships hinge entirely on re-securing Adventure Time media rights from Cartoon Network/Warner Bros., which likely expired or is dormant.

- Most realistic play: licensing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Adventure Time IP is owned by Cartoon Network/Warner Bros.; publishing or revival rights almost certainly require renegotiation or have lapsed.
- Risk (market): Game clocks at 5 hours main campaign; review consensus flags brevity as a friction point, limiting reacquisition appeal to completionists and IP fans only.
- Risk (other): Developer (Climax Studios) studio status listed as fading with five titles and no recent public posts (96.6 months silent), making future support or expanded editions unlikely.

What players are asking for:
- Longer campaign or additional story content (5-hour runtime cited repeatedly as too short)
- Performance polish and bug fixes (reviewer notes game 'wasn't polished')
- Port to additional platforms or console editions beyond initial release
- Post-launch DLC or seasonal Adventure Time story episodes

Suggested first moves:
1. Confirm current IP licensing status with Cartoon Network/Warner Bros.; determine if Outright Games retains publishing rights or if Adventure Time license window has closed.
2. Evaluate Climax Studios' current capacity and willingness to support a content update; if studio is dormant, assess in-house expansion feasibility or contractor engagement for DLC episodes.
3. Model a discounted re-release on Nintendo Switch or PlayStation timed to a Cartoon Network promotion or streaming revival, targeting parents and nostalgic fans who comprise the core sales cohort.

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/728240
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.