How much revenue did Cold Waters make?

$1.8M–$4.8M after Steam's roughly 30% cut, derived from the copies estimate and its price.

How many copies did Cold Waters sell?

Q: How many copies did Cold Waters sell?

163k to 265k copies, based on its 5k Steam reviews. This is a labeled estimate from the review count, not exact sales.

Estimated copies sold: ≈ 163k–265k; $1.8M–$4.8M after Steam's cut $3.3M–$7.4M before Steam's cut; from 5k reviews (Very Positive)

Copies are estimated from the public review count, adjusted for release year, and cross-checked against SteamSpy's own estimate.

Did the prediction match what actually happened?

We hid Cold Waters and predicted how it would do from its 8 similar games. Every figure here, including Cold Waters's, is estimated from Steam reviews.

Copies, estimated from reviews

typical (middle half) 198k–418k

best case 7.1M (World of Warships)

Games like Cold Waters

A typical game among these

≈ 198k–418k copies

≈ $1.2M–$4.1M after Steam's cut

from ~6k reviews

Only the top fifth of 2019's Steam releases earned $34k or more before Steam's cut, so plan for that or less.

All 8 of the similar games are hits.

Best case: World of Warships at ≈ 5.4M–8.8M copies.

What their first month looked like

About half the games that made it here had over 3k reviews in their first month; the range was 623 to 19k.

The genre you'd be entering

These games: The similar games share Naval (7 of 8) and Naval Combat (6 of 8).
The winners: Winners here lead with Naval Combat + Co-op.
When they shipped: The similar games span 2008 to 2024, and 2 of the 8 shipped in the last two years.

How these numbers were worked out

A hit here: 1,000+ reviews, roughly $150k+ before Steam's cut (a standard indie benchmark).

Copies come from each game's reviews times a sales-per-review rate that falls with release age, from about 31 for the most recent game here to about 79 for the oldest, then widened into a range; revenue rides on that estimate times price. Source: GameDiscoverCo (2020) and VG Insights (2021).

Similar games

Game	Est. copies	Est. revenue	Price	Reviews	Tags
Battlestations Pacific 2009	Est. copies ≈ 165k–268k SteamSpy 200k–500k	Est. revenue Free	Free	3k reviews Mostly Positive	World War IIStrategy
World of Warships 2017	Est. copies ≈ 5.4M–8.8M 28x vs typical SteamSpy 20M–50M	Est. revenue Free	Free	157k reviews Mostly Positive	Free to PlayNaval Combat
Wolfpack 2019	Est. copies ≈ 61k–98k SteamSpy 50k–100k	Est. revenue $583k–$1.6M after Steam's cut $1.1M–$2.4M before Steam's cut	$34.99	2k reviews Very Positive	SimulationNaval Combat
NEBULOUS: Fleet Command 2022	Est. copies ≈ 110k–179k SteamSpy 200k–500k	Est. revenue $908k–$2.4M after Steam's cut $1.7M–$3.8M before Steam's cut	$29.99	4k reviews Very Positive	StrategySpace
Silent Hunter® III 2008	Est. copies ≈ 167k–271k SteamSpy 200k–500k	Est. revenue $458k–$1.2M after Steam's cut $832k–$1.9M before Steam's cut	$9.99	3k reviews Very Positive	Naval CombatSimulation
Sea Power : Naval Combat in the Missile Age 2024	Est. copies ≈ 169k–274k SteamSpy 50k–100k	Est. revenue $2.3M–$6.2M after Steam's cut $4.2M–$9.6M before Steam's cut	$49.99	7k reviews Very Positive	Naval CombatSimulation
UBOAT 2024	Est. copies ≈ 678k–1.1M 4.9x vs typical SteamSpy 500k–1M	Est. revenue $5.6M–$15.0M after Steam's cut $10.2M–$23.1M before Steam's cut	$29.99	27k reviews Very Positive	SimulationWorld War II
Ultimate Admiral: Dreadnoughts 2023	Est. copies ≈ 199k–323k SteamSpy 200k–500k	Est. revenue $1.9M–$5.1M after Steam's cut $3.5M–$7.9M before Steam's cut	$34.99	8k reviews Mixed	Naval CombatNaval