"We likely need several more Expedition 33s to finally change their minds" – Valor Mortis creator explains why publishers should trust AA titles

Over the last dozen years, the Warsaw‑based studio One More Level has built a reputation for delivering AA‑level experiences that often rival the polish of full‑blown AAA releases. Their breakout hit, the 2020 cyber‑punk platformer Ghostrunner, garnered rave reviews and sold an estimated 5.6 million copies, according to Video Game Insights, and a sequel followed in 2023, cementing the studio’s credibility. Nevertheless, the AA segment is under pressure.

In recent years, capital for mid‑range projects has dried up just as competition has intensified. Smaller publishers tend to back titles with budgets under $1 million, while the industry giants pour resources into evergreen franchises.

Even blockbuster AA successes such as Clair Obscur: Expedition 33 have not eliminated the perception that mid‑tier games are risky bets. "Our massive hit with Expedition 33 proved the AA market can work, yet many publishers still view it as a gamble," explains One More Level’s game director Radek Ratusznik to GamesIndustry.biz at Gamescom.

"One triumph isn’t enough; we probably need several more Expedition 33‑style titles to shift that mindset. There are plenty of studios capable of delivering high‑quality AA games without spending hundreds of millions." Ratusznik adds that modern development tools enable faster, slightly cheaper production, but they cannot eliminate the need for a reasonable development window. "We can iterate more efficiently now, but you can’t finish a solid game in a single year without compromising quality.

Publishers who push for an ultra‑tight schedule risk releasing an unfinished product." The studio’s latest project, Valor Mortis, illustrates the funding roller‑coaster that many AA developers face. Originally, Ghostrunner and its sequel were released through Italy’s 505 Games, a subsidiary of Digital Bros, which announced a 30 percent staff reduction in late 2023 as part of a restructuring plan.

For Valor Mortis, One More Level first signed with Private Division, the indie‑focused label of Take‑Two Interactive. However, in 2024 Take‑Two’s leadership, led by Strauss Zelnick, decided to double‑down on AAA blockbusters, stating, "We’re in the business of making great big hits," and began scaling back Private Division. Private Division’s assets were eventually sold, and the label re‑emerged in 2025 as Fictions, now best known for publishing Game Freak’s recent Beast of Reincarnation.

When the Private Division deal collapsed, Ratusznik considered self‑publishing Valor Mortis, but quickly realized that maintaining the desired production quality would be difficult without a publishing partner. Enter Lyrical Games, a newcomer that mirrors Annapurna Interactive’s model as a publishing arm spun out of a film company. Its parent, Lyrical Media, produced the Hugh Jackman feature The Death of Robin Hood. Lyrical Games was founded in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, and it has positioned itself as a champion of mid‑tier titles.

"When developers tell us they’re an ‘oasis in the desert,’ it’s both humbling and a bit terrifying because we can only support a limited number of projects," Rochkind told GamesIndustry.biz last year. He cited Clair Obscur as the archetype of the kind of game Lyrical Games wants to back, noting, "Having a title like that under our label would be a dream." For One More Level, the timing was perfect. "Blake and Roger remembered us and understood our vision," Ratusznik says. "Their familiarity with the project made the partnership seamless." At the time the studio began seeking financing for Valor Mortis, it employed roughly 40‑50 people.

Despite the uncertainty, the team resisted the temptation to downsize. "We had reserves from earlier successes, which allowed us to weather the storm without cutting staff—a decision that was far from easy," Ratusznik explains. "We took a leap of faith, trusting that funding would eventually materialize. Maintaining a cohesive team is crucial; it’s far harder to rebuild a team than to keep one intact." As the October 13 launch approaches, the studio has grown to over 70 employees, though not all are dedicated to Valor Mortis; some are already working on a secret, unannounced title.

Many AA studios supplement their core teams with external contractors for large‑scale tasks. For example, Sandfall Interactive kept a core of about 30 developers while outsourcing much of the work on Expedition 33. One More Level, however, prefers to keep the majority of production in‑house.

Lead designer Łukasz Wabik clarifies the studio’s approach: "We outsource QA and a few marketing‑related assets, but the bulk of art, animation, and programming is done by our internal team." This strategy not only preserves creative control but also fosters a stronger studio identity. Looking ahead, Ratusznik says a successful launch could trigger further hiring, but the studio is cautious about expanding too quickly. "If Valor Mortis performs well, we’ll grow organically, but we don’t want to become a full‑scale AAA studio overnight. We prefer to retain control over our creative direction and production pipeline," he notes.

Valor Mortis is a first‑person action RPG that blends influences from several celebrated franchises. Its combat and boss design echo the unforgiving difficulty of Dark Souls, while its plasmid‑style abilities recall the power‑ups of BioShock.

The game’s unique selling point, however, lies in its setting: the Napoleonic Wars of the early 19th century. By situating a horror‑infused narrative within this historical period, the developers aim to differentiate themselves in an increasingly crowded market. Ratusznik explains the rationale behind the choice: "We wanted a backdrop that hadn’t been overused. The 19th century offered rich visual and thematic material, yet we initially toyed with a more fantastical, Bloodborne‑style aesthetic.

Eventually we settled on the Napoleonic era because it felt both recognizable and fresh." Early narrative concepts were more fantastical—one pitch imagined Napoleon possessed by a dark entity. Over time, the team shifted toward a grounded horror story that emphasizes the brutal realities of war, while still allowing for supernatural elements. "We moved from a dark‑fantasy Napoleonic world to a horror‑inflected one with subtle fantasy touches," Ratusznik says.

"The focus is on the human cost of conflict, not on a demon‑possessed emperor conquering the world." First‑person swordplay is another cornerstone of the game’s identity. "Our unique selling points are the setting, the combat system, and the atmospheric horror," Ratusznik asserts.

"Players will recognize the historical period, but the mutations, eerie ambience, and visceral combat give it a fresh spin." In summary, One More Level’s journey—from a funding crisis to a partnership with a film‑industry‑born publisher—highlights the challenges and opportunities facing AA developers today. Their commitment to keeping development largely internal, coupled with a bold creative vision for Valor Mortis, demonstrates how mid‑tier studios can carve out a niche, attract dedicated partners, and potentially reshape industry perceptions about the viability of AA games.