"We’ll probably need several more Expedition 33s to convince them otherwise" – the creator of Valor Mortis explains why publishers should trust AA titles

Over the last dozen years, the Polish studio One More Level has built a reputation for delivering AA‑level experiences whose visual fidelity and production polish often rival those of AAA blockbusters. The studio first broke through with the 2020 cyber‑punk action platformer Ghostrunner, a title that garnered enthusiastic critical praise and sold an estimated 5.6 million copies, according to Video Game Insights, and it later followed up with a sequel in 2023. Despite those high‑profile successes, the broader AA segment is under considerable pressure. In recent years, venture capital and other investment streams have dried up just as the market has become more crowded, prompting smaller publishers to gravitate toward ultra‑low‑budget projects—typically under $1 million—while the major players double‑down on evergreen AAA franchises.

Even though a few AA games such as Clair Obscur: Expedition 33 have posted eye‑popping sales, securing financing for a mid‑tier property remains a daunting uphill battle. "We had the massive hit of Clair Obscur: Expedition 33, yet publishers still label the AA space as risky," explains Radek Ratusznik, game director at One More Level, speaking to GamesIndustry.biz at Gamescom. "We probably need a handful of Expedition 33‑style successes to change that perception.

One hit alone isn’t enough. There are plenty of studios capable of delivering high‑quality AA games without blowing hundreds of millions of dollars." Ratusznik also highlighted the practical constraints of development.

"With today’s technology we can produce higher‑quality games a bit faster and perhaps a bit cheaper, but it’s not realistic to finish a polished title in a single year without major compromises. A game still needs sufficient time for development, testing, and polishing. I doubt we can squeeze that timeline as aggressively as some publishers would like." One More Level’s journey to secure a publishing partner for its upcoming title Valor Mortis—scheduled for release on 13 October—has been a roller‑coaster.

The studio’s earlier hits, Ghostrunner and its sequel, were released under the Italian publisher 505 Games, a subsidiary of Digital Bros. In late 2023, Digital Bros announced a 30 percent staff reduction as part of a restructuring plan. For Valor Mortis, the studio initially signed a deal with the indie label Private Division, but in 2024 its parent company Take‑Two scaled the label back, with CEO Strauss Zelnick stating the group wanted to concentrate on AAA projects: "We’re in the business of making great big hits." Private Division’s assets were later sold, and the label resurfaced in 2025 as Fictions, now known for publishing titles like Game Freak’s recent Beast of Reincarnation. When the Private Division agreement collapsed, Ratusznik admitted the team briefly considered self‑publishing.

"If we wanted to keep the quality level we envision, we needed a publisher’s support," he said. The breakthrough came from Lyrical Games, a publishing venture spun out of the film company Lyrical Media—the studio behind the Hugh Jackman film The Death of Robin Hood.

Formed in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, Lyrical Games is one of the few publishers deliberately targeting the mid‑tier market. "People call us an oasis in the desert, which is both flattering and a little scary because we can only do so much," Rochkind told GamesIndustry.biz last year. He cited Clair Obscur as the archetype of the kind of project the label wants to back.

"If we could have a title like that in our portfolio, it would be a dream." Timing proved ideal for One More Level. "We were lucky that Blake and Roger remembered us and were familiar with the project," Ratusznik noted. At the time of the funding push, the studio employed roughly 40‑50 people.

Rather than lay off staff when uncertainty loomed, the team relied on savings accrued from earlier successes. "We took a leap of faith that we’d secure financing, and it paid off. Keeping a cohesive team together is hard; it’s easy to dismantle it and far harder to rebuild," he explained. As the launch window draws near, the studio has grown to over 70 employees, though not all are dedicated to Valor Mortis—some are already working on a yet‑unannounced follow‑up.

Many AA developers augment their core teams with external contractors for larger ambitions; for example, Sandfall Interactive relied heavily on outsourced talent while building Clair Obscur: Expedition 33 with a core of about 30 staff. One More Level, however, strives to keep as much production in‑house as possible. Lead designer Łukasz Wabik confirmed that while external QA and a small agency handle trailer and marketing assets, the bulk of art, animation, and programming is created by the internal team. Looking ahead, Ratusznik says a successful Valor Mortis launch could trigger further hiring, but the studio does not intend to morph overnight into a AAA powerhouse.

"If the game does well we’ll expand, but we want to grow at a sustainable pace and retain control over our creative direction," he said. Valor Mortis itself is a first‑person action RPG that blends influences from several well‑known franchises.

Its challenging boss encounters and the mechanic of losing items upon death echo the difficulty and tension of Dark Souls, while the plasmid‑style abilities recall the biotech powers of BioShock. What truly differentiates the game is its historical setting: the Napoleonic Wars of the early 19th century. The developers deliberately chose an era that is rarely explored in video games to give the title a distinctive flavor in an increasingly saturated market. Ratusznik explained that the team initially toyed with a more fantastical premise—Napoleon possessed by a malevolent entity—but eventually shifted to a grounded narrative that still retains subtle fantasy elements.

"We moved from a dark‑fantasy Napoleonic concept to a horror‑infused, historically grounded story. The focus is on the brutality of war, not a demon‑riding emperor." The studio also emphasizes its unique selling points: a first‑person sword combat system and the period‑specific aesthetic. "These are our USPs.

The setting, the mutations, the horror vibe—all of that creates a sweet spot where players recognize the historical backdrop but experience it in a fresh, unexpected way," Ratusznik said. In summary, One More Level’s experience illustrates both the challenges and opportunities of the AA market.

By leveraging a niche historical setting, maintaining a largely in‑house development pipeline, and partnering with a publisher that understands mid‑tier ambitions, the studio hopes to demonstrate that AA titles can be both creatively bold and financially viable, paving the way for more investors to place their confidence in the sector.