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09.10.2025

What you need to have on hand when looking for a publisher and how much money they might provide for development — a roundtable with publishers

The editorial team at App2Top posed the most pressing questions regarding publishing to representatives from Skystone Games, Indie GO Fund, HeroCraft, and Polden Publishing.

1. What should an indie team have prepared for an average publisher to consider their project?

Dmitry Muratov — Head of Publishing — Skystone Games

  • A pitch that includes the following:
    • a product description;
    • a gameplay video;
    • build (or demo link);
    • a description of USP (unique selling points).
  • Ideally, a budget and burn rate.
  • You should have a clear request to the publisher in terms of "We need X, Y, and Z to bring the project to full release."
  • Additionally, having a team and noting previous projects is a plus. Don't forget override state keys for access if the build is on Steam.
  • Visualizing the timeline is also beneficial.

Danila Kamenev — Head of Publishing — Indie GO Fund

A very popular question, yet it seems many indies still don't know the answer. So, I'd gladly provide a basic list:

  • a pitch including:
    • game description;
    • a hook;
    • demo link;
    • gameplay video link;
    • current project status description;
    • a phased scheme and/or roadmap creation plans;
    • team background;
    • what the team currently needs;
  • PNL document;
  • a working game build;
  • concept document.

Daniil Kolesnikov — Business Development Manager — HeroCraft

A build and gameplay video are necessary. The video for first impressions is even more important. Often there's not enough time to play through all incoming projects, but you want to understand what was sent.

A project pitch deck is also needed so that the publisher can immediately understand the team's and project's needs. For pitches, you can check the talk I gave this spring at a conference in Minsk.

 

Yaroslav Shalashov — Co-owner — Polden Publishing

In 2025, the best things you can have on hand include:

  • firstly, a track record and a story about any experience in releasing projects;
  • secondly, a prototype;
  • thirdly, a Steam page indicating the wishlist number;
  • fourthly, a playtest with prototype metrics.

If we see that the game is played, it's wishlisted, and it has a clear scope that a competent team can handle, then everything becomes much easier.

But this is, of course, in a perfect world.

In reality — the team should at least have a build.

Investing in a concept that a team without a track record is developing, without a community or traffic, is practically an impossible scenario today.

2. What should be considered when calculating the budget to show a publisher (what will they look for)?

Dmitry Muratov — Head of Publishing — Skystone Games

It’s worth noting right away that this question is quite broad, and the answer usually depends on the developer team's experience.

There’s a tale that the creators of the original "Alien" pitched their idea for a long time, looking for a budget, and after their resounding success, when pitching the sequel, they merely wrote "Alien" on a board and added the dollar sign at the end.

It’s best to show the complete picture. Indicate everything, from the number of employees and their monthly salaries during development to the volume of outsourcing, music, voice acting, and office expenses.

Don’t forget overheads, if any, and always plan for things not going as expected (earthquakes, illnesses, hard drive wipes), adding around 20% to the overall budget.

Be careful not to make the tables so complex that they can’t be understood without you. Run it by someone. If it makes sense to them without your hints - great!

Danila Kamenev — Head of Publishing — Indie GO Fund

We mainly focus on salaries. We get worried when they’re too low: developers might just starve. Conversely, very high figures can also be troubling. In most cases, it means the project will be harder to fund.

What don’t I like when evaluating projects?

Unforeseen expenses!

They're hard to track and control later, so they’ve always been a “red flag” for me.

We also look at the rental of offices, licenses, and so on.

Daniil Kolesnikov — Business Development Manager — HeroCraft

We look at the team’s burn rate and how the sales forecast is structured. Sometimes the PNL models are overly optimistic.

Yaroslav Shalashov — Co-owner — Polden Publishing

Primarily, we are interested in teams and salaries, of course. We assess the team’s ability to plan expenses and the scope.

Sometimes people start their own business expecting the same earnings as if they were still employed in a good position. If you list a salary in the budget worth 7-8 thousand euros or more, that’s a “red flag,” even if you’re a senior!

It’s important to calculate:

  • how well salaries fit into schedules and costs;
  • whether the game can recoup its expenses positively;
  • whether it’s a fair cost for the scope of the project.

It’s possible to make a big game cheaply and a small game very expensively. In one case, you win, in the other — you lose.

3. How much should one ask for (this is about the specific amount: obviously, projects differ, but there are average ranges a young team can consider)?

Dmitry Muratov — Head of Publishing — Skystone Games

I’d say our Western colleagues, like us at Skystone, always look at where the team is located.

If you’re in Eastern Europe but have budget requests comparable to Canada, then either you’re veterans of the industry and everyone wants your project, or it’s a super-viral game. Usually, people strongly misjudge salary ranges by merely comparing labor costs in the CIS with the West. Also, when project leaders set themselves exorbitant salaries, it raises questions like “do you not believe in your product?”

If your team is completely new, and your project and brand currently have no market value, don't ask for too much. The first product is about moderate ambitions, realistic expectations, and modest requests. You should see the situation from the publisher's perspective: it’s also very daunting for us to have faith in a rookie team. It's even harder to have confidence in a solo developer, who might face unforeseen issues.

If you’re a team assembled of industry veterans, but haven’t completed any games together, we'll consider you like a novice team, though we might understand higher salary expectations. The idea that a band of talented individuals will harmoniously perform a series of stunning concerts doesn’t often prove true. The multitude of studios started by former Blizzard/CD Projekt RED/BioWare/your studio of choice employees has taught the industry a lesson.

I believe a budget range between $50,000 and $200,000 is reasonable for indie teams from the CIS. I’ve personally seen projects made for $40,000 gross half a million.

There's no point talking about failures of games of any size; there are too many. Sure, you can ask for half a million or more, but it greatly narrows your publisher pool. It increases your search duration and the requirements for your build. It's rare for an early prototype from a fresh team, mostly placeholder, to get funding. Unless, of course, you're someone like Daniel Mullins.

Danila Kamenev — Head of Publishing — Indie GO Fund

Hmm… Complex question.

Currently, I think anything above $150,000 lies in the high-risk zone.

We know that games grossing over $1 million and above account for only 353 projects a year.

What does $1 million gross mean? It’s $560,000 net.

If you have a project with a budget over $300,000, experience shows you’ll almost make no profit from sales. At best, you might break even.

So I would recommend budgeting $100,000 for development and up to $80,000 for marketing. Anything beyond is risky for both sides. Yet, I wouldn’t advise asking for less than $50,000, as it greatly affects production quality.

Daniil Kolesnikov — Business Development Manager — HeroCraft

If I’m guessing correctly, around $100,000 is the typical budget request from indie teams for project development. But I wouldn’t base this entirely on average figures. You need to understand how much and how fast you can deliver a high-quality product.

Yaroslav Shalashov— Co-owner — Polden Publishing

You should ask for as much as you have the courage to. Negotiations with an investor about the budget are like a game, and you’re the player. Your skill in playing this game will determine what you get. In reality, if the team is young and working on its first project, I wouldn't ask for a lot. It should be under $100,000.

If a team is small and has a comfortable burn rate, it doesn’t need much money. You can make a game on a budget and avoid major pitfalls.

From my perspective, funding ranges for small games by young active teams go from $50,000 to $150,000 for development, excluding marketing. Anything more expensive is harder to predict, riskier, and demands greater effort. If it flops, everyone involved will suffer greatly.

4. Besides money, what should developers ask from publishers, and what should they avoid requesting?

Dmitry Muratov — Head of Publishing — Skystone Games

In all honesty, every contract is somewhat unique.

Fight for localization terms. Both for whether they'll go into recoup (i.e., funds the publisher recovers from initial sales) and for how many. Fight for initial royalties so it’s not zero until all funds are recovered by the publisher, for rights and percentages on console versions. Also, negotiate who might get grants from First Parties (Microsoft, Sony, Epic Games, etc.).

You might try to secure promises like "participation in industry events," but that’s more of a handshake agreement than contractual.

If AI in localization, artwork, etc., is an issue for you, discuss the use of AI solutions with the publisher upfront.

Discuss community management and social media responsibilities.

In any publisher negotiations, you may have aces up your sleeve. If, for instance, you already have substantial wishlists, a popular YouTube channel, or a strong social media presence, all these can become leverage for altering terms in your favor.

Avoid setting a marketing budget in your proposal. It’s rare that your marketing expense projections align with the publisher's. Also, avoid including post-release support or ports in the initial budget (again, this varies depending on whether you’re veterans with a strong pitch or a young studio).

Don’t impose conditions like "if you don’t hit the KPIs, then…". For publishers, the product and investment are risks, and layered conditions exacerbate this. Such stipulations usually result in broken deals.

Admittedly, there are scenarios where a publisher, seeing no results from an announcement, neglects the product. Still, no contractual conditions or KPIs upfront can protect you from that. The best approach is to smartly plan an exit strategy, specify situations when you can reclaim the project from the publisher and leave, like untimely payments on milestones.

Danila Kamenev — Head of Publishing — Indie GO Fund

A publisher isn’t just an entity that invests money. They’re a partner providing feedback on your project, organizing QA, marketing, partnerships deals, solving accounting and financial issues, offering legal support…

Simply put, they’re a partner dealing with all your problems, leaving you to only create your project.

Daniil Kolesnikov — Business Development Manager — HeroCraft

Marketing is the first thing to ask publishers about. How do they do it? What can they offer already?

Also, you can inquire about console porting, language translations, what production expertise they have?

Besides the typical questions, it’s important to recognize your needs. Where are your project/team’s weak spots, what would you want from a publisher? Make a list and ask the publisher how they can address your needs.

Generally, you should ask any questions that might arise. If the questions are reasonable, I don’t think anyone would struggle to answer them. Although asking, “Would you make a movie based on the game if it succeeds?” might elicit interesting reactions.

Yaroslav Shalashov — Co-owner — Polden Publishing

Assess the publisher's competencies and your own to understand:

  • which competencies the publisher has;
  • what they can definitely do better than you.

Publishers can handle marketing, business development, QA, and localization. They might have deep expertise in certain genres. That's how we handle it in publishing. Mostly, people request labor division.

Asking a publisher to do your job isn’t advisable. The saddest situation is when a publisher has to become a game designer, fixing core and meta aspects of your game, which ideally should be done by you.

5. Under what conditions are contracts between publishers and developers usually signed (bonus: what conditions should absolutely be avoided)?

Dmitry Muratov — Head of Publishing — Skystone Games

Raw Fury, a well-known publisher, has accessible current contract templates online. Many, though not all, use similar conditions. For instance, we might take a larger percentage of sales until break-even or till a certain amount, after which developers may gain a more favorable share or equal footing with us.

But still, review Raw Fury's contracts. Very instructive.

Danila Kamenev — Head of Publishing — Indie GO Fund

The basics include:

  • 50/50 with only investment and recoup of 70/80 in the publisher's favor;
  • 30/70 in favor of the developer if the publisher provides only marketing without investment and with a recoup of 70/80 in the publisher's favor.

Bad terms include deals where it’s 100% for 0 during recoup, refund of all expenses (including publisher staff salaries), transferring the project’s IP to the publisher, not being able to create a sequel without the publisher, and transferring all asset rights. There are also dubious return percentage schemes.

Daniil Kolesnikov — Business Development Manager — HeroCraft

Typically, it’s a license agreement specifying the publisher's duties (marketing, game sales on designated platforms, other services) and the developer's responsibilities (development, deadlines, and commitments). Naturally, there are financial terms (revenue share, payment order to the developer, recoup conditions).

From what I know, “standard” terms on PC are a 70/30 revenue share in favor of the developer. Meanwhile, the publisher recoups all their expenses.

The most delicate aspect might be the question of IP and contract termination: who owns what, working terms with the publisher afterward, etc. Also, be vigilant about source code transfer conditions.

Yaroslav Shalashov— Co-owner — Polden Publishing

Any contractual relationship between a game, studio, and publisher is a game. You are the player, as they say. And in this game, you try to strengthen your position. There are many nuances. It starts with share distribution, moves to intellectual property ownership, recoupment of certain costs, etc.

There are unscrupulous publisher colleagues who try to insert very unpleasant clauses into contracts, especially those significantly restricting developers. These clauses need to be identified, and you definitely shouldn’t agree to them. Never agree to anything right away. Always take what they offer you. Publishers often try to include as much as they can for themselves, then watch how you negotiate and respond.

Any contract is subject to revision. It’s an entirely individual situation. Feel you have leverage? Go ahead, negotiate benefits. Of course, when preparing for a release with a game like Quarantine Zone and having a million wishlists, you can choose. You might even negotiate terms with Devolver Digital. But if you are a young team without a portfolio and successful cases… that’s wishful thinking.

6. What should you pay attention to when communicating with a publisher?

Dmitry Muratov — Head of Publishing — Skystone Games

I’ll write this in caps: READ THE CONTRACT!

Be sure to spend money on a lawyer to identify pitfalls. There are many willing to slip you a bad deal or use tricky phrasing that punishes for even the slightest milestone delay, potentially affecting intellectual property. Be cautious. There have been cases of project, money, and profit “seizures.”

Also, pay attention to the number of successful games. Are there “talking heads” in the publishing house that you trust? Most importantly, check if there are games similar to yours in their portfolio (genre specialization is crucial), and how many games they have coming out in the same quarter as yours.

Danila Kamenev — Head of Publishing — Indie GO Fund

Ensure that the publisher understands what your project is about. A good publisher is deeply involved in the game, knows how to promote it, has similar projects in their portfolio, allows interaction with the producer, is transparent about marketing costs, answers all questions, and, importantly, aligns with you vibe-wise. That’s truly crucial.

Daniil Kolesnikov — Business Development Manager — HeroCraft

What projects has the publisher released, and in which countries do they have expertise? What happened with their latest releases? What can they offer you and what needs can they fulfill?

Particular attention should be paid to how the publisher communicates with you. Do you like the communication style and format?

Yaroslav Shalashov— Co-owner — Polden Publishing

As an indie developer, I’d focus on their portfolio, reviews, how they report, and their communication style with you.

There were cases where everything seemed sugary and nice, but upon signing — no updates, nothing is done. Or what’s done is not to the desired extent.

I know cases where a publisher picked up a game and during its operation (for instance, half a year), wishlists decreased. This is, clearly, a major red flag.

It’s crucial to speak with those who’ve worked with the publisher, getting recommendations. Unfortunately, this is a very closed-off industry. Few openly share behind-the-scenes details.

At Polden Publishing, this story is open. This transparency helps people understand who we are, how we operate, and our principles. We write posts daily about what we’re doing on projects, including answering people’s questions in the comments. They later return to us with new games.

7. When does a team not need a publisher?

Dmitry Muratov — Head of Publishing — Skystone Games

When wishlists flow in waves, and people speak eagerly about the game, creating viral content even before its release.

Yes, you’ll shoulder many tasks typically handled by a publisher, but you won’t have to share the profits.

However, consider a scenario where a potential partner takes a low percentage (5-15%) for handling publishing tasks. Attractive wishlist metrics (CCU, retention, median playtime, etc.) are extra cards in negotiations.

Danila Kamenev — Head of Publishing — Indie GO Fund

Games can always be made without a publisher. Publishers solve problems unrelated to direct development but consistently encountered by developers. Although publishers can assist with development, financial concerns are essential.

A publisher isn’t required if developers can independently and successfully handle marketing, PR, social media, QA, work with international entities in various countries, quickly find quality outsourcing as needed… the list goes on. If the developer has their own budget for everything mentioned, then a publisher isn’t necessary. Or if the developer simply wants to make and release a game without any promotional work.

If you’re at the discussion stage and the publisher doesn’t offer funds for publishing (development and marketing), you probably don’t need them.

Daniil Kolesnikov — Business Development Manager — HeroCraft

When a team knows what to do and doesn’t need marketing, localization, or other publisher services. For example, if the project gains enough organic traction or is well-marketed on various platforms.

Working with a publisher should always be a beneficial partnership. Publishers need good and successful projects, and you need to cover your project's weaknesses or reinforce already-existing early success.

Yaroslav Shalashov— Co-owner — Polden Publishing

The irony is that a publisher isn’t needed if the team isn’t needed by a publisher. If you’ve tried a dozen or so publishers and received no approval, it's time to either kill the project or go indie. Publishers are in business, and for that, they need a clear market understanding, trends, and to align with what the audience wants. If it’s a dream game missing trends, a publisher isn’t required. It won’t be profitable.

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