diff --git a/src/dxgi/dxgi_swapchain.cpp b/src/dxgi/dxgi_swapchain.cpp
index adfa667e..60ae6bf8 100644
--- a/src/dxgi/dxgi_swapchain.cpp
+++ b/src/dxgi/dxgi_swapchain.cpp
@@ -838,7 +838,7 @@ namespace dxvk {
 
     HRESULT hr = m_monitorInfo->AcquireMonitorData(hMonitor, ppData);
 
-    if (FAILED(hr)) {
+    if (FAILED(hr) && HasLiveReferences()) {
       // We may need to initialize a DXGI output to populate monitor data.
       // If acquiring monitor data has failed previously, do not try again.
       if (hMonitor == m_monitor && !m_monitorHasOutput)
diff --git a/src/util/com/com_object.h b/src/util/com/com_object.h
index 75188d5c..7468bc06 100644
--- a/src/util/com/com_object.h
+++ b/src/util/com/com_object.h
@@ -68,10 +68,14 @@ namespace dxvk {
       }
     }
 
-    ULONG GetPrivateRefCount() {
+    ULONG GetPrivateRefCount() const {
       return m_refPrivate.load();
     }
-    
+
+    bool HasLiveReferences() const {
+      return bool(m_refCount.load() | m_refPrivate.load());
+    }
+
   protected:
     
     std::atomic<uint32_t> m_refCount   = { 0ul };