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2023 retrospective and goals for the new year

Jan 8, 2024 in , , ,

2023 was a pretty good year for me!

I'll touch here briefly on my personal life, then go on to talk about the Quest 2 release and sales of Eye of the Temple, and finally talk about my new game project and goals for 2024.

Personal life

It's the first year since the pandemic that didn't feel affected by it. I moved from Denmark to Finland in 2020, just as the pandemic began, so on the social side it was some slow years initially.

Things picked up in 2022, but especially in 2023 we had lots of family and friends from Denmark visit us here and have a great time, and we also made more strides on the local social network front.

Particularly memorable was a wonderful weekend celebrating the 40th birthdays of me and a friend, with some of my closest family and friends from Denmark and Finland at a site called Herrankukkaro in the beautiful Finnish archipelago.

Eye of the Temple released on Quest and turned a profit

In April 2023, a year and a half after the original PC release on Steam, my VR game Eye of the Temple was finally released for Quest 2, with the help of Salmi Games. While it was super tough getting there, in the end we managed to ship the game at a level of quality I'm very proud of. Others agreed; it got a great critical reception, as well as a high user rating of 4.7 out of 5 stars.

It's super gratifying regularly seeing new reviews of the game from people who say it's the best VR experience they've had. Oh, and recently, UploadVR ranked it the 5th best game for Quest 3 and Screen Rant ranked it the 6th best game for Quest 2. Wow, what an achievement for my little game! (But remember, critical acclaim does not equal sales…)

I’m no longer working on the game at this point. After being occupied with it over a span of seven years, I really want to move on, and I'm also done with VR in general for now. But the sales of the game are still developing, so let's talk a bit about that.

My thinking about the game’s sales performance has changed a lot over time. I didn't pay myself a regular salary during the game’s three years of full time work. But when evaluating the game financially, I use the old salary from my previous job as reference, and calculate whether my time investment at that salary (I’ll refer to it as just “my investment”) would be covered retroactively by the game’s revenue. Of course, I also keep in mind that the covered percentage would be higher if I based it on a more moderate salary.

I was initially slightly disappointed in the Steam sales. As I wrote about back in November 2021, the projected year one sales would only cover 25% of my investment. Back then I expected the Steam year one revenue to make up the majority of the game's lifetime revenue. One year later, the sales had outperformed that projection, and my investment was actually covered 40%.

A lot has happened since then, in particular due to the Quest launch.

Comments from many VR developers in 2021 and 2022 had indicated that Quest sales could commonly be 5x-10x as large as Steam VR sales. For Eye of the Temple, the Quest week one revenue was merely twice of what the Steam week one revenue had been, so it was not quite as high as Salmi Games and I had hoped for. Speaking with other VR developers in 2023, it seems that the time when Eye of the Temple launched on Quest was generally a bad period for Quest game sales.

Still, Quest is easily the most important VR platform, and later the sales picked up significantly, with the recent Black Friday and Xmas sales combined having as big an impact on revenue as the launch sales. Already, 70% of total revenue has come from Quest and 30% from Steam, with the Quest version having been out for a shorter time.

Cumulative revenue from Steam and Quest

My investment is now covered 140%. In other words, even based on a proper salary for myself that's fitting for my experience, Eye of the Temple has recently flipped well into profitability. That still doesn't make it a runaway hit, but it's really nice to know that it's a success not only creatively and as a passion project, but also in terms of financial sustainability. Back in 2020 when I was still developing the game, I had not expected that at all for my first commercial title.