The Business of Video Games Podcast

It's Fri... Monday! In this end-of-year episode, Shams and Fernando look back on 2025. From personal wins to the industry-wide turbulence that affects everyone. They both reflect on a surprisingly strong year for their work while acknowledging how tough it’s been for many studios, with layoffs, consolidation and cautious decision-making shaping the landscape. Topics iniclude the major deals almost known more for what they signal about power and money, than for the games themselves, as well as the ongoing conversation around the tension between creative risk and AAA budgets. How does franchises who get stuck trying to “stay fresh” without alienating fans, and why could “franchise fatigue” actually be more of a quality problem? And what would a wrap up in 2025 be without the AI conversation, the VR conversation, the new hardware (Switch 2) conversation and of course some hot 2026 industry predictions..? ;) Til next time, Happy Holidays!

It's Friday! In the second half of their conversation with Adam Boyes, Shams and Fernando go far beyond career anecdotes and dig into what truly drives fulfillment in the games industry. Adam reflects on the pivotal moment he chose happiness and creative energy over traditional career momentum - an insight that later shaped Iron Galaxy’s unusually transparent, collaborative leadership structure. The discussion also widens into a sharp look at how co-development evolved from a misunderstood niche into a central force in modern game production, and how Iron Galaxy found itself years ahead of that curve. From there, the trio explores deeper industry currents: where new capital is coming from, how money from inside and outside gaming reshapes studios, and whether AAA development is drifting toward a Hollywood-like system of compact creative cores supported by waves of specialist partners. Adam’s perspective blends optimism with realism, emphasizing stamina, courage, and the willingness to keep taking risks even when big bets fail. But the episode never loses its warmth or humor - culminating in Adam revisiting the now-iconic photo of him wearing a VR headset next to a charging Tesla(!), a snapshot of tech culture at its most unselfconscious. It’s an episode that mixes heart, industry insight, and genuine silliness in equal measure. Find Vivrato here VR in the parking lot

Do we got another great conversation for you here friends? Yes we do! In this episode, Shams and Fernando sit down with industry veteran Adam Boyes to explore his remarkable journey through the industry over the last decades. Adam shares stories from his early years, continuing to look at his time at Midway and Capcom, and his transition into business development and executive leadership. The conversation leads over to Adams experience with navigating Japanese corporate culture, digital distribution with titles like Bionic Commando Rearmed and an unexpected stint consulting for major non-gaming IPs like Kraft Foods(!). But what is a conversation with Adam Boyes without diving into his years at PlayStation during the PS4 generation, including the backstory behind one of the most iconic industry memes: the legendary “How to Share a Game on PlayStation” video.. But before we jump into the interview, Shams and Fernando also sheds some light on Sweden’s outsized footprint in the global games industry, from its unusually strong export numbers to the cultural and economic aspects that have helped Swedish studios punch far above their weight for decades (and continue to do so). The "How to share your game on PlayStation"-meme VR in the parking lot Vivrato.com

It's time to continue our conversation with Chris and Tyler som Red Hook Studios! In this second half of our interview with Red Hook Studios founders Chris and Tyler, we focus on what happened after Darkest Dungeon 1. Wrapping up Kickstarter commitments, the surprising intensity of Early Access, and how the game’s success never really gave the team a chance to slow down. Among other things, we also touch on their DLC approach, some of the business decisions behind Darkest Dungeon 2 and why they ultimately accepted an Epic Games Store deal that fully funded the sequel despite community pushback. Beyond the interview, Shams and Fernando also get into the state of industry events like GDC, plus what they’ve been playing and thinking about lately - because even in a packed episode, there’s always room for a little extra. Find Red Hook Studios on Steam here

We are back! And what a time to be alive when we start of Season 4 with two real bangers. Chris Bourassa and Tyler Sigman are the creative minds behind Darkest Dungeon and co-founders of Red Hook Studios. Chris - who still believes he’s not really an artist, despite shaping one of the most iconic visual styles in gaming - joins forces with Tyler, the design wizard and production mastermind. In this episode (the first of two), we dive into their backstory, unpack their Kickstarter ride, and explore how they turned stress, madness, and misery into one of the most unforgettable indie darlings out there. Find Red Hook Studios on Steam

In our final episode of the season, Shams and Fernando drop the guest format to tackle a few persistent myths and misconceptions that have been quietly annoying us all year. We dig into things like: How a game can be a bestseller and still be considered a disappointment What minority investments really mean — and what they don’t No shouting, no hot takes (okay, maybe one), just two people who’ve seen a few things, trying to make sense of a business that often doesn't. Thanks for listening this season — see you soon.   support us on patreon: https://www.patreon.com/BusinessOfVideoGames

Nobody does shadow drops (the act of releasing a game with no advance marketing) quite like Landfall Games, who've done it many times; most recently moving 2 million units of PEAK in less than 2 weeks after shadow dropping it in June. Fernando talks to Landfall's Chief Business Officer Rebecca Lautner and Head of Publishing Kirsten-Lee Naidoo to get the inside story of how they've become the masters of this unusual tactic.

XCOM designer and Sid Meier protege Jake Solomon is embarking on a new mission: CEO of his own studio. Jake gives Shams and Fernando a window into his extraordinary career, telling stories from his days at Firaxis and talking about his journey to found Midsummer Studios. Follow Jake's progress at https://www.midsummerstudios.com/

Fourty two is the answer to life - but it's also the number of points of wisdom justly dispensed by games industry veteran Paul Kilduff-Taylor - mastermind behind Developer/Publisher/Operator - Mode 7 Games. Paul wrote the list of "42 Essential Game Dev Tips That Are Immutably Correct and Must Never Be Disputed by Anyone Ever At Any Time!"  and we unpack some of these and try to figure out why Paul is a very wise man. Because he is. (sorry about Shams audio - its fixed in the next episode!) Check out the original blog post here https://modecollapse.substack.com/p/42-essential-game-dev-tips-that-are And more info on Mode 7 Games: https://www.mode7.games/

Season 3 finally continues with a truly unique indie business auteur! Xalavier Nelson Jr. runs Strange Scaffold, a game studio that defies convention—achieving repeated success while staying boldly artistic. Listen in to hear Xalavier and Strange Scaffold manage what so few others do.    👉 Visit Strange Scaffold and explore their games here. https://www.strangescaffold.com/

As we're in a festive mood we decided to try something new and unpack what life is like at a service provider in the games industry. Some describe it as the hardest biz dev job in the industry and they wouldn't be wrong. Serial entrepreneur Alexander Bergendahl shares how Lootlocker helps developers and publishers level up and get closer to their players.    https://lootlocker.com/

This episode, we’re diving into the wild world of user-generated content (UGC) with Scott Reismanis, CEO of Mod.io. Ever wondered WHY mods go from hobby projects to gaming game-changers such as DOTA or CS? Scott’s here to spill the beans on Mod.io’s mission, the challenges of getting studios on board, and why UGC is still the future (spoiler: it’s awesome). We’ll chat about big decisions, big trends, and big dreams for modding.  Mods, memes, and major insights—don’t miss it!

In this episode we sit down with two true operators in the biz dev space - Callum Underwood and Alex Nicholson. By night they're up to shenanigans - by day - more shenanigans - but also they run Uwu Biz a one stop shop for your business development or really - any needs you might have as a successful developer. Callum and Alex regale us with how they operate in tough times.   https://www.uwu.biz/  

Welcome to a new season of the Business of Video Games Podcast! Your host finally cut his hair, grew up and got himself a job (more on in a future episode)! Meaning that this season we'll be bringing on a new co-host - Fernando Rizo - business developer extraordinaire - familiar to regular listeners. Expect monthly episodes this season and more behind the scenes materials for patreons - otherwise our format stays the same - the hardest hitting business interviews in the games industry. In this episode we interview Soren Lundgard - CEO of Ghostship Games - developers of smash hit Deep Rock Galactic. We uncover the secrets of their success and how they are re-invest in the Danish games industry.

Finally we arrive at the season finale! In this episode your's truly shares the story of trying, and failing, at starting a game studio. Why start a studio in this day and age? How did Shams go about doing and why did the studio endeavour end in shambles (but with a lot of learnings)? If you want to see some screenshots of some of the prototypes have a look here:   https://shorturl.at/4BWAS   See you next season!

We arrive finally in the fifth and final episode in the series where we talk to Kim Nordström - games industry meganerd, veteran and author of "Up, Down, Up - why some game companies succeed while others fail. This episode delves into the final phase that companies go through before throwing in the towel - namely the "Decline Phase". We unpack why companies end up here and how you navigate out of these dreaded waters. You can find more info about the book here: https://updownupbook.com/

After a short (!) hiatus we're back with Kim Nordström and "Up, Down, Up" - the ultimate book about why some game companies fail and others succeed. This time about the "Mature" phase. Sounds more risqué than it sounds - but still worth a listen - if you dare. You can find more info about the book here: https://updownupbook.com/

We return yet again to our home base this season - Indie publisher Hooded Horse. They recently release Manor Lords and it was a roaring success selling over 2M copies in less than 3 weeks. We talk to their CEO Tim Bender and Chief Marketing Officer Abhishek Chaudhry to understand what went right, wrong and what the team would do differently.   Find Manor Lords here https://store.steampowered.com/app/1363080/Manor_Lords/ And follow Hooded Horse here: https://x.com/HoodedHorseInc    

Times are grim in the games industry - at least they are if you're running a business looking for money. But there's light at the end of the tunnel! We think. The trick is just to survive until Gandalf comes riding back with backup. To discuss how to survive until 2025 when things might look better we invited Robert Bäckström - ex Fatshark, Raw Fury and much more to talk about survival strategies for game developers.   Visit Aurora Punks here: https://www.aurorapunks.com/ And Robert here: https://twitter.com/aurora_punker

We're back with another episode in the series where we explore the book - "Up, Down, Up - Why some game companies succeed while others fail" written by Kim Nordström. This time we talk about the growth phase of the companies journey. We delve into what characterizes this phase and how the focus of companies change during this phase. We talk about crazy concepts such as "Culture transfer rate" and other tricks of the dark arts. You can find more info on it here: https://updownupbook.com/