# SUCCUBUS

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

- Steam appid: 985830
- Developer: Madmind Studio
- Released: 2021 · Genre: Action · List price: $24.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $4.5k to $6.7k per month (mid $5.6k)
- Opportunity score: $7.3k/month at x1.30 dormancy multiplier
- Est. lifetime owners: 160.0k · Est. lifetime net revenue: $997.0k
- Review sentiment: 76% positive across 5243 reviews (5000 from Steam purchases)
- Review velocity: 36.0 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 8 months ago
- Studio active elsewhere (6 titles tracked), so this one may welcome a partner
- Last build shipped 22 months ago
- Last discounted 0 months ago, 11 sales in the last 12 months
- Proven demand elasticity: x1.4 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $10.2k |
| After VAT / sales tax (-13% blended) | $8.9k |
| After refunds (-9.5% median) | $8.0k |
| Net to developer (after Steam 30%) | $5.6k |

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

33, 37, 47, 41, 33, 33, 16, 13, 22, 34, 40, 37, 22, 28, 35, 25, 22, 55, 31, 49, 34, 30, 47, 25

## Estimated acquisition range

$134.6k to $269.2k (2-4x the trailing net annuity of $67.3k/year). Same error range applies.

## Analyst notes (AI-assisted)

A first-person action game blending Doom-style combat with provocative aesthetic, published by Madmind Studio in 2021.

Succubus has generated ~$1M lifetime revenue on 160k units with a 75% positive rating, earning $5.6k/mo residually despite zero marketing for 8+ months. The core gameplay challenge, shallow mechanics undermined by distraction from shock content, is addressable through focused design iteration. Acquisition makes sense only for a publisher willing to invest in combat polish and systems depth; the IP is owned outright by Madmind, a five-title independent studio still operating, making direct purchase or co-publishing a clearer path than revival alone.

- Most realistic play: acquisition
- Risk (market): Strong review sentiment split between players seeking Doom-like shooter mechanics and those drawn to shock value; core gameplay is widely criticized as shallow, suggesting the 75% rating masks conflicting audience expectations.
- Risk (tech): Recurring reports of poor optimization (frame drops on level 3+, DirectX11 requirement on Windows 11) and platform bugs (sleep/save errors) indicate unresolved technical debt.
- Risk (other): Content strategy relies on adult DLC to unlock uncensored assets sold off-platform; Steam's content policies and regional bans create friction and limit organic discoverability.

What players are asking for:
- Co-op multiplayer mode (Vermintide comparison appears twice)
- First-person to third-person camera toggle option
- Better tutorial and progression guidance (hidden power-up mechanics)
- Performance optimization across all levels and reduced graphical presets

Suggested first moves:
1. Commission a 4–6 week gameplay audit focused on enemy behavior variety, progression pacing, and combat feedback; model cost and scope against lifting core loop to mid-tier shooter standard.
2. Contact Madmind Studio directly to explore acquisition or co-publishing; confirm IP ownership, current dev bandwidth, and appetite for capital infusion; assess whether founder-led iteration or external takeover aligns with their roadmap.
3. Run a small paid campaign (influencer first-person shooter audience, $5–10k budget) testing messaging that leads with combat and world design rather than shock content; measure conversion and retention to refine positioning for a larger revival push.

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/985830
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.