# The Walking Dead: The Final Season

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

- Steam appid: 866800
- Developer: Telltale Games
- Publisher: Skybound Games
- Released: 2018 · Genre: Adventure · List price: $19.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $10.8k to $16.2k per month (mid $13.5k)
- Opportunity score: $28.4k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 868.4k · Est. lifetime net revenue: $3.7M
- Review sentiment: 95% positive across 21459 reviews (17367 from Steam purchases)
- Review velocity: 125.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.9 years
- Studio active elsewhere (6 titles tracked), so this one may welcome a partner
- Last build shipped 7.5 years ago

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $24.5k |
| After VAT / sales tax (-13% blended) | $21.3k |
| After refunds (-9.5% median) | $19.3k |
| Net to developer (after Steam 30%) | $13.5k |

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

207, 158, 157, 228, 211, 221, 130, 130, 132, 102, 276, 232, 180, 121, 189, 271, 196, 196, 125, 185, 141, 86, 87, 131

## Estimated acquisition range

$324.4k to $648.8k (2-4x the trailing net annuity of $162.2k/year). Same error range applies.

## Markets by review language

- german: 2%
- russian: 23%
- spanish: 8%
- japanese: 0% (game NOT localized in this language)
- schinese: 14%
- french: 2%
- english: 43%
- koreana: 3% (game NOT localized in this language)
- brazilian: 5%

## Analyst notes (AI-assisted)

Telltale's narrative-driven conclusion to The Walking Dead adventure series, following Clementine through her final story arc.

The Final Season has generated $3.7M lifetime on 868k units with 95% positive reviews and steady residual revenue ($13.5k/mo mid-estimate), making it a quiet but reliable performer in Skybound's catalog. The title appeals to acquirers seeking established IP with passionate fanbases and strong emotional closure narratives, though the franchise's broader decline and Telltale's restructuring history present execution risk. For publishers, the play is stewarding an evergreen narrative title that continues to pull new players via series completion.

- Most realistic play: publishing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): The Walking Dead IP is owned by AMC Networks; any expansion, sequel, or merchandising tie-in requires rights negotiation and approval.
- Risk (tech): Save system friction noted in reviews (Telltale account login issues); technical debt from Telltale's original engine may limit platform expansion or optimization ROI.
- Risk (market): Franchise fatigue is evident in some reviews; the series declined progressively before this finale, and no announced spin-offs or sequels suggest limited IP momentum post-ending.

What players are asking for:
- Fix save file synchronization and Telltale account login reliability
- More environmental exploration and collectible-hunting mechanics (praised when present)
- Console parity on sensitivity settings and control responsiveness

Suggested first moves:
1. Audit save system and Telltale account integration for stability; a patch addressing login reliability could unlock dormant replay-throughs and lower barrier to series entry.
2. Analyze international pricing and localization gaps (Korean 2.7% gap noted) to evaluate regional re-marketing campaigns, especially in high-review-volume markets (Russian: 3.5k reviews).
3. Map AMC Networks licensing terms (renewal dates, approval workflows) to identify whether bundling with other Skybound catalog titles or seasonal discounting requires rights consultation.

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/866800
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.