"We probably need several more Expedition 33s to finally convince them" – Valor Mortis creator explains why publishers should trust AA titles

Over the last dozen years, the Warsaw‑based studio One More Level has steadily built a reputation for delivering AA‑level experiences that often rival the polish of full‑blown AAA releases. The studio first burst onto the scene with Ghostrunner, a cyber‑punk, high‑octane action platformer that debuted in 2020. Critics praised its sleek design and tight gameplay, and the title proved a commercial hit, moving roughly 5.6 million copies according to estimates from Video Game Insights.

The success was strong enough to justify a sequel, which arrived in 2023 and continued to showcase the studio’s knack for marrying striking visual style with demanding, skill‑based mechanics. Despite these triumphs, the broader AA segment is facing a perfect storm.

In recent years, venture capital and publisher investment have thinned just as the market has become more crowded. Smaller publishers have retreated to projects with budgets under $1 million, while the industry heavyweights have doubled down on evergreen, franchise‑driven AAA blockbusters.

Even titles that have demonstrated that AA games can sell in the millions—such as Clair Obscur: Expedition 33—still struggle to secure the financial backing needed for a mid‑tier follow‑up. "We had the massive hit of Clair Obscur: Expedition 33, yet publishers still view the AA space as risky," explains Radek Ratusznik, game director at One More Level, in an interview with GamesIndustry.biz at Gamescom. "We probably need a handful of Expedition 33s before the skeptics change their minds.

One success isn’t enough; we need a track record that shows many studios can deliver high‑quality titles without blowing hundreds of millions of dollars." Ratusznik adds that modern development tools have shortened production cycles and reduced costs, but they haven’t eliminated the need for a reasonable development timeline. "The technology lets us create better games faster and cheaper, but you still can’t finish a polished product in a single year without compromising quality.

Publishers who push for that kind of compression are setting themselves up for trouble," he says. One More Level’s latest project, Valor Mortis, illustrates the roller‑coaster reality of securing a publishing partner.

The game, slated for release on October 13, is a first‑person action RPG set against the backdrop of the Napoleonic Wars. Its combat system blends the deliberate, punishing swordplay of Dark Souls with the plasmid‑style powers reminiscent of BioShock, while its narrative leans into a horror‑tinged reinterpretation of early‑19th‑century warfare.

The studio’s previous titles, Ghostrunner and its sequel, were released through 505 Games, an Italian label owned by Digital Bros. In late 2023, Digital Bros announced a 30 percent staff reduction as part of a restructuring effort, casting doubt on its future support for mid‑tier projects.

When One More Level turned to Private Division for Valor Mortis, the partnership quickly unraveled. Take‑Two Interactive, Private Division’s parent company, announced in 2024 that it would refocus on AAA franchises, with CEO Strauss Zelnick stating, "We’re in the business of making great big hits." Private Division’s assets were eventually sold, and the label resurfaced in 2025 as Fictions, now known for publishing titles such as Game Freak’s Beast of Reincarnation. During the upheaval, One More Level briefly considered self‑publishing Valor Mortis, but Ratusznik admits the studio lacked the distribution muscle and marketing budget to launch a game of their ambition on their own.

Salvation arrived in the form of Lyrical Games, a publishing venture spun out of the film company Lyrical Media—the same outfit 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 AA developers, a rare publisher willing to back mid‑tier projects that fall between indie modesty and AAA extravagance. "When people tell us we’re an oasis in the desert, it’s both flattering and a little terrifying," Rochkind told GamesIndustry.biz last year. "Having a title like Clair Obscur in our catalogue would be a dream because it exemplifies the kind of high‑quality, medium‑budget experience we want to champion." Ratusznik credits the timing and personal relationships for the deal.

"Blake and Roger remembered us and understood the project inside out. Their belief gave us the breathing room we needed," he says. At the time the studio began seeking funding for Valor Mortis, its headcount hovered around 40‑50 employees.

Rather than resort to layoffs when cash flow grew uncertain, the team leaned on reserves accumulated from earlier successes. "We had saved enough to survive the lean period without trimming the team, which was a difficult but necessary leap of faith," Ratusznik explains.

"A development team is a fragile organism; it’s far easier to break it than to rebuild it later." By the time the launch window approaches, the studio has expanded to over 70 staff members, though not all are dedicated to Valor Mortis—some are already engaged on a confidential, unannounced project. This growth reflects a broader industry trend where mid‑tier studios often outsource large portions of development to external partners. For instance, Sandfall Interactive, the creators of Clair Obscur: Expedition 33, maintained a core team of roughly 30 but relied heavily on contract workers for art, animation, and programming. One More Level, however, prefers to keep as much of the pipeline in‑house as possible.

Lead designer Łukasz Wabik notes, "We handle the bulk of asset creation ourselves, only bringing in external QA and a small studio for trailer production and marketing tools." Looking ahead, the studio’s future staffing strategy hinges on Valor Mortis’ commercial performance. "If the game does well, we’ll likely scale up, but we don’t intend to transform overnight into a AAA‑size operation," Ratusznik says. "We want to retain control over our creative process and maintain the culture that allowed us to produce distinctive experiences." Valor Mortis itself distinguishes itself through its setting and mechanics.

The developers deliberately chose the Napoleonic era—a period rarely explored in video games—to avoid the genre fatigue that plagues more common fantasy or sci‑fi backdrops. "We initially toyed with a more overtly fantastical premise, like a demonic Napoleon, but eventually settled on a grounded horror narrative that reflects the brutal reality of early‑19th‑century conflict," Ratusznik recounts.

"The result is a blend of historical authenticity, subtle supernatural elements, and visceral, first‑person sword combat." The studio’s unique selling points—first‑person melee combat, a horror‑infused historical setting, and a distinct visual style—have resonated positively with early reviewers and playtesters. Ratusznik believes these differentiators will help Valor Mortis cut through the noise of an increasingly saturated market and demonstrate that AA titles can deliver fresh, compelling experiences without the massive budgets of AAA blockbusters.