Over the last dozen years, the Warsaw‑based studio One More Level has built a reputation for delivering AA‑level experiences that often rival AAA productions in polish and ambition. The studio first broke into the wider consciousness with the 2020 cyber‑punk action platformer Ghostrunner, a title that earned glowing reviews and impressive sales – Video Game Insights estimates put its worldwide shipments at roughly 5.6 million copies. The success was strong enough to merit a sequel, which arrived in 2023 and continued the franchise’s momentum.
Despite these achievements, the broader AA market is under pressure. In recent years, investment capital for mid‑range projects has thinned just as the field has become more crowded. Smaller publishers increasingly hedge their bets on games with budgets under $1 million, while the major players pour resources into proven evergreen franchises.
Even blockbuster AA successes such as Clair Obscur: Expedition 33 struggle to secure the financing needed for the next generation of mid‑tier titles. "Our hit with Expedition 33 proved the model works, yet publishers still view the AA segment as risky," explains Radek Ratusznik, One More Level’s game director, during a GamesIndustry.biz interview at Gamescom.
"We’ll probably need a handful of Expedition‑type successes before the perception shifts. One hit isn’t enough – the industry wants to see a pattern of reliable returns. There are plenty of studios capable of delivering high‑quality AA games without blowing hundreds of millions on development." Ratusznik adds that modern tools have accelerated production pipelines, allowing developers to achieve higher fidelity more quickly and at lower cost.
"The technology at our disposal lets us craft better‑looking games faster, but we can’t simply rush a title into a one‑year cycle without compromising quality. Proper development time, testing, and polish are still essential, and I doubt publishers will let us cut corners that far," he says. One More Level’s latest project, Valor Mortis, illustrates the roller‑coaster journey many mid‑tier studios face when seeking a publishing partner. The game, slated for an October 13 launch, is a first‑person action RPG set against the backdrop of the 19th‑century Napoleonic Wars.
Its design blends the unforgiving boss encounters of Dark Souls, the plasmid‑style powers reminiscent of BioShock, and a historically grounded yet fantastical setting that aims to stand out in a saturated market. Ghostrunner and its sequel were originally released through Italy’s 505 Games, a subsidiary of Digital Bros.
In late 2023, Digital Bros announced a 30 % staff reduction as part of a restructuring plan, casting uncertainty over future collaborations. For Valor Mortis, One More Level initially inked a deal with Private Division, the indie‑focused label under Take‑Two Interactive. However, in 2024 Take‑Two began scaling back Private Division to concentrate on AAA blockbusters, with CEO Strauss Zelnick stating, "We’re in the business of making great big hits." When the Private Division agreement collapsed, the studio briefly contemplated self‑publishing.
"We realized that if we wanted to maintain the quality level we envisioned, we needed a partner with publishing muscle," Ratusznik admits. The lifeline arrived in the form of Lyrical Games, a publishing venture spun out of the film company Lyrical Media – the same studio behind the Hugh Jackman feature The Death of Robin Hood.
Founded in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, Lyrical Games positions itself as an oasis for mid‑tier developers. "People tell us we’re an oasis in the desert, which is both flattering and a bit daunting," Rochkind told GamesIndustry.biz last year. He cited Clair Obscur as the archetype of the kind of title Lyrical Games wants to champion.
"If we could have a game like that on our roster, it would be a dream." For One More Level, timing proved perfect. "Blake and Roger remembered us and were already familiar with the project," Ratusznik notes. At the time of seeking funding, the studio employed roughly 40–50 people. Rather than resort to layoffs when the future looked hazy, the team leaned on reserves saved from earlier successes.
"We made a leap of faith, trusting that financing would eventually arrive. Keeping the team intact was crucial – it’s far easier to build a cohesive crew than to rebuild one later," he says.
Since then, the studio has expanded to over 70 staff members, though not all are dedicated to Valor Mortis; some are already engaged on an undisclosed, future title. Unlike many AA developers that outsource large portions of their work, One More Level strives to keep production internal. Lead designer Łukasz Wabik explains, "We handle most assets in‑house, only bringing in external QA and a small external team for trailers and marketing tools." Looking ahead, the studio plans to scale further if Valor Mortis performs well, but Ratusznik cautions against an abrupt shift to AAA‑scale operations.
"Growth will be measured. We want to stay in control of our creative direction rather than being swallowed by a massive corporate structure," he says. Valor Mortis itself distinguishes itself through its setting and combat.
The developers deliberately chose the Napoleonic era because it is under‑explored in video games, offering a fresh historical canvas. Early narrative concepts flirted with a supernatural twist – a demon‑possessed Napoleon – but the team settled on a more grounded horror approach that emphasizes the grim realities of early‑19th‑century warfare, punctuated by subtle fantasy elements like mutating soldiers and eerie, otherworldly powers. The first‑person swordplay, combined with the game’s unique visual style, forms the core of its unique selling points.
"Our USPs are the setting, the combat feel, and the horror‑tinged atmosphere. Players get to experience a recognizable period of history through a fresh, mutated lens, which we think resonates strongly," Ratusznik explains. "The feedback so far has been overwhelmingly positive, and we’re excited to see how the community receives the final product." In summary, One More Level’s journey from a funding crisis to a partnership with a film‑industry‑derived publisher underscores the challenges and opportunities within the AA space.
By maintaining a strong internal team, focusing on distinctive creative visions, and securing a publisher that believes in mid‑tier ambition, the studio hopes to prove that AA titles can not only survive but thrive, paving the way for future Expedition‑style successes.