Over the last dozen years, Poland’s One More Level has built a reputation for delivering AA‑level experiences that often rival the production quality of full‑blown AAA titles. The studio first broke into the mainstream with the 2020 cyber‑punk action platformer Ghostrunner, a game 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 momentum.
Despite these high‑profile hits, the broader AA market is under pressure. In recent years, investment dollars have dried up just as the number of competing projects has swelled.
Smaller publishers have retreated to ultra‑low‑budget experiments—often $1 million or less—while the industry giants have poured resources into evergreen franchises that guarantee massive returns. Even blockbuster AA titles such as Clair Obscur: Expedition 33, which sold in the millions, still struggle to secure the kind of financing that would make a mid‑tier game feel safe. "We achieved a huge hit with Clair Obscur: Expedition 33, yet many publishers still view the AA space as a gamble," explains Radek Ratusznik, One More Level’s game director, during a GamesIndustry.biz interview at Gamescom. "One success isn’t enough to change the narrative.
We probably need several more Expedition‑style titles before the skeptics are convinced. There are plenty of studios capable of producing high‑quality AA games without blowing hundreds of millions of dollars." Ratusznik also cautions against the myth that modern technology automatically makes game development faster and cheaper. "Our tools allow us to iterate more efficiently, but you still need time for polish, testing, and a proper launch. You can’t magically compress a multi‑year project into a single year without sacrificing quality, no matter how much a publisher pressures you." The studio’s latest project, Valor Mortis, illustrates the funding roller‑coaster that many mid‑tier developers endure.
Originally, Ghostrunner and its sequel were released under Italy’s 505 Games, a subsidiary of Digital Bros. Digital Bros announced a 30 % staff reduction in late 2023 as part of a broader restructuring, but the partnership remained stable for those titles. For Valor Mortis, One More Level first signed with Private Division, the indie‑focused arm of Take‑Two Interactive. In early 2024, however, Take‑Two’s leadership, led by Strauss Zelnick, announced a strategic shift toward AAA blockbusters, stating, "We’re in the business of making great big hits." Consequently, Private Division began scaling back its operations, and its catalogue was eventually sold, re‑emerging in 2025 as Fictions, now best known for Game Freak’s Beast of Reincarnation.
When the Private Division deal fell apart, One More Level briefly contemplated self‑publishing Valor Mortis. "We realized that to maintain the quality we envisioned, we needed a partner who could support us financially and logistically," Ratusznik said. The lifeline arrived in the form of Lyrical Games, a publishing venture spun out of the film company Lyrical Media—the same studio behind Hugh Jackman’s 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 AA developers in a desert of risk‑averse publishers. "When developers call us an oasis, it’s both flattering and intimidating," Rochkind told GamesIndustry.biz last year. "If we can back a title like Clair Obscur, that would be a dream for us." Ratusznik credits the timing of Lyrical Games’ entrance as serendipitous. "Blake and Roger remembered us and understood the project from day one," he said.
At the time of seeking funding, the studio employed roughly 40‑50 people. Rather than resort to layoffs when cash flow grew uncertain, the team leaned on reserves saved from earlier successes.
"We took a leap of faith, trusting that we’d secure the necessary financing. Keeping the core team intact was vital—building a cohesive development crew is hard, but dismantling it is effortless." As the October 13 release date approaches, the studio has expanded to over 70 staff members, though not all are dedicated to Valor Mortis; a portion works on a yet‑unannounced follow‑up. The company’s approach to external resources is measured. Lead designer Łukasz Wabik notes that while the studio outsources quality‑assurance and contracts a boutique firm for trailer production, the majority of assets—from character models to environmental art—are crafted in‑house.
This philosophy contrasts with other AA outfits that rely heavily on outsourced talent; for instance, Sandfall Interactive’s core team for Clair Obscur numbered around 30, supplemented by a large network of external contributors. Looking ahead, One More Level says a successful launch could trigger further hiring, but the studio is wary of ballooning into a full‑scale AAA operation too quickly.
"If Valor Mortis performs well, we’ll grow responsibly. We want to retain control over our creative process rather than become a massive, unwieldy studio overnight," Ratusznik explains. Valor Mortis itself is a first‑person action RPG that blends familiar mechanics with a distinctive historical backdrop.
Its combat draws inspiration from the punishing boss encounters of Dark Souls, while its plasmid‑style abilities echo the biotech powers of BioShock. The real differentiator, however, is the setting: the Napoleonic Wars of the early 19th century.
Ratusznik says the team deliberately avoided overused fantasy tropes, opting for a period that feels both recognizable and fresh. "We initially toyed with a concept where Napoleon was possessed by an eldritch force, but we shifted toward a more grounded narrative.
The horror elements remain, but they’re anchored in the brutal reality of early‑modern warfare rather than a demon‑riding emperor." The developers spent months refining this vision, iterating on story pitches until they settled on a horror‑infused, historically grounded tale. The first‑person swordplay, combined with period‑accurate uniforms and battlefield environments, forms the core of the game’s unique selling points.
"Our USPs are the setting, the combat feel, and the subtle blend of horror with historical authenticity," Ratusznik says. "Players will recognize the Napoleonic era, but the mutations, the eerie atmosphere, and the narrative twists give it a fresh spin that we hope will resonate in a crowded market." In summary, One More Level’s journey—from the triumph of Ghostrunner, through funding turbulence, to the partnership with Lyrical Games—highlights the precarious yet resilient nature of the AA sector. Their story underscores a broader industry truth: mid‑tier games can thrive when publishers are willing to take calculated risks, and when developers remain steadfast in preserving their creative teams and vision.
If Valor Mortis succeeds, it may well become the next proof point that AA titles deserve the same confidence traditionally reserved for AAA blockbusters.