"We may need several more Expedition 33s to convince them we're right" – 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 big‑budget AAA releases. The studio first burst onto the scene with the 2020 cyber‑punk 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.

A sequel followed in 2023, cementing the studio’s status as a capable mid‑tier developer. Despite these successes, the broader AA market is under pressure.

In recent years, investment streams have thinned just as competition has intensified. Smaller publishers tend to back projects with budgets under $1 million, while the heavyweight publishers pour resources into evergreen AAA franchises.

Even blockbuster AA titles such as Clair Obscur: Expedition 33 have struggled to secure reliable financing, highlighting how difficult it can be to fund a game that sits between indie and AAA in scope. "Our hit with Clair Obscur: Expedition 33 proved the potential of AA, yet many publishers still view the segment as risky," explains Radek Ratusznik, One More Level’s game director, during a GamesIndustry.biz interview at Gamescom. "We probably need a handful of Expedition 33‑type successes to change that perception.

One hit isn’t enough; the industry needs to see a pattern of solid returns before they feel comfortable. There are plenty of studios capable of delivering high‑quality AA games without blowing a few hundred million dollars on development." Ratusznik adds that modern development tools have shortened production cycles and lowered costs, but they haven’t eliminated the need for a reasonable timetable.

"We can now create better‑looking games faster and a bit cheaper, but you still can’t finish a polished title in a single year without compromising. Proper testing and polishing take time, and I doubt publishers will allow us to cut corners just to meet an arbitrary deadline." One More Level’s latest project, Valor Mortis, illustrates the roller‑coaster nature of publishing deals in the AA space.

Originally, the studio’s previous titles were launched under the Italian publisher 505 Games, a subsidiary of Digital Bros. However, Digital Bros announced a 30 % workforce reduction in late 2023 as part of a restructuring plan, casting doubt on its future support for mid‑tier releases. For Valor Mortis, One More Level initially signed with Take‑Two’s indie label Private Division. That partnership fell apart in 2024 when Take‑Two’s CEO Strauss Zelnick declared a strategic shift toward AAA blockbusters, stating, "We’re in the business of making great big hits." Private Division’s assets were later sold, and the label re‑emerged in 2025 as Fictions, which now backs titles like Game Freak’s Beast of Reincarnation.

When the Private Division deal collapsed, One More Level briefly contemplated self‑publishing Valor Mortis. "We realized that if we wanted to maintain the quality level we envisioned, we needed a publishing partner," Ratusznik says.

Enter 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 positions itself as an oasis for AA developers, focusing on mid‑tier projects that might otherwise be overlooked.

"People tell us we’re an oasis in a desert, which is both flattering and a bit intimidating because we can only do so much," Rochkind told GamesIndustry.biz last year. He cited Clair Obscur as the archetype of the kind of game Lyrical wants to champion.

"If we could have a title like that in our catalogue, it would be a dream." The timing proved ideal for One More Level. "Blake and Roger remembered us and understood the project inside out," Ratusznik recalls.

At the time of seeking funding for Valor Mortis, the studio employed roughly 40‑50 staff members. Rather than resort to layoffs when cash flow became uncertain, the team leaned on savings accumulated from earlier successes. "We took a leap of faith, trusting that we would secure financing. It wasn’t easy, but the team is our most valuable asset—building a cohesive development crew is hard, destroying it is all too easy," he notes.

As the October 13 launch approaches, the studio has expanded to more than 70 employees, though not all are assigned to Valor Mortis; some are already working on an undisclosed follow‑up. Many AA studios supplement their core teams with external contractors for large‑scale tasks.

For instance, Sandfall Interactive relied heavily on outside talent while developing Clair Obscur: Expedition 33. One More Level, however, strives to keep production in‑house wherever possible. Lead designer Łukasz Wabik explains, "We outsource QA and a few marketing assets, but the majority of art, design, and programming is done internally." Looking ahead, the studio is prepared to scale further if Valor Mortis proves successful. "If the game does well, we’ll grow alongside it, but we don’t want to leap straight into AAA territory.

Maintaining control over our creative direction is essential," Ratusznik says. Valor Mortis is a first‑person action RPG that blends influences from several celebrated franchises. Its combat system evokes the challenging boss encounters of Dark Souls, while the death‑penalty mechanic of dropping items mirrors that series’ risk‑reward loop. The game also incorporates plasmid‑style abilities reminiscent of BioShock’s power‑ups.

What truly sets it apart is its historical backdrop: the Napoleonic Wars of the early 19th century. By situating a horror‑infused narrative within this period, the developers aim to differentiate the title in a crowded market. Ratusznik explains the search for a fresh setting: "We wanted a time period that hadn’t been overused.

The 19th century appealed to us, but initially we toyed with a more fantastical, Bloodborne‑style aesthetic. Eventually we settled on the Napoleonic era because it offered a recognizable yet underexplored canvas." Early narrative concepts were even more outlandish. One pitch imagined Napoleon himself possessed by a malevolent force. The team later opted for a grounded approach, retaining a hint of the supernatural while focusing on the grim realities of war.

"We shifted from a dark‑fantasy Napoleonic saga to a horror‑tinged, historically anchored story with subtle fantasy elements," Ratusznik clarifies. First‑person swordplay is another unique selling point. "Our USPs are the setting, the combat feel, and the horror atmosphere," he says.

"Players get to experience a recognizable historical era, but with mutated enemies and a chilling mood that feels fresh. It’s a sweet spot where familiarity meets novelty." In summary, One More Level’s journey—from the triumph of Ghostrunner to the precarious financing of Valor Mortis—highlights both the challenges and opportunities facing AA developers today. With the backing of a film‑industry‑derived publisher, a resilient internal team, and a bold, historically inspired vision, the studio hopes to demonstrate that mid‑tier games can deliver compelling experiences without the massive budgets of AAA, ultimately convincing skeptical publishers that AA is a viable, profitable segment of the industry.