# Shantae: Half-Genie Hero Ultimate Edition

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

- Steam appid: 764300
- Developer: WayForward
- Publisher: WayForward 
- Released: 2018 · Genre: Action · List price: $29.99
- 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: $3.3k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 44.9k · Est. lifetime net revenue: $289.4k
- Review sentiment: 88% positive across 1261 reviews (898 from Steam purchases)
- Review velocity: 9.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.5 years
- Studio active elsewhere (20 titles tracked), so this one may welcome a partner
- Last build shipped 8.2 years ago
- Last discounted 2 months ago, 4 sales in the last 12 months
- Proven demand elasticity: x1.7 review velocity during past deep sales

## 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)

4, 12, 7, 6, 8, 8, 4, 6, 9, 16, 16, 6, 18, 4, 3, 7, 11, 7, 7, 4, 10, 15, 18, 5

## Estimated acquisition range

$38.0k to $76.1k (2-4x the trailing net annuity of $19.0k/year). Same error range applies.

## Analyst notes (AI-assisted)

Shantae: Half-Genie Hero Ultimate Edition is a 2D action-platformer with metroidvania elements featuring the titular half-genie character on a quest to stop a pirate invasion.

At $1,585/mo residual revenue and 87.9% positive Steam sentiment, this 2018 WayForward title remains a steady earner despite minimal recent marketing push (last developer post 29.6 months ago). The franchise owns a loyal core audience; this edition consolidates prior DLC into a single SKU, making it a clean catalog hold for publishers seeking evergreen action IP with zero live-service obligations. Acquisition upside is modest unless paired with a broader Shantae revival strategy.

- Most realistic play: watch
- Risk (market): Genre saturation in indie 2D platformers limits new-player discovery; 9.8 reviews/month suggests limited organic reach despite strong conversion.
- Risk (other): Developer radio silence (29.6 months since last post) and only 4 discounts in 12 months indicate low promotional engagement; franchise momentum may be decaying.

What players are asking for:
- Sequel or new IP from WayForward with Shantae's polish
- Remaster of earlier Shantae titles (Risky's Revenge, Pirate's Curse) in modern engine
- Cross-platform anthology collection
- Behind-the-scenes DLC or developer commentary

Suggested first moves:
1. Audit the full Shantae catalog (Half-Genie Hero, Risky's Revenge, Pirate's Curse, Seven Sirens) for lifetime revenue, churn, and cross-sell patterns to model portfolio acquisition ROI.
2. Model a modest revival campaign: 40% discount promotion timed to franchise anniversary or indie platformer event, paired with a single press cycle highlighting the series' longevity and art direction.
3. Contact WayForward's business development to explore whether a sequel greenlight or IP licensing arrangement (for animation, merchandise) is in scope; current residuals suggest the IP still has equity.

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/764300
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.