The Business of Video Games Podcast
The Business of Video Games Podcast explores the inner workings of the video game industry, focusing on business decisions, publishing strategies, and the steps and missteps that happen behind the scenes. Each episode sheds light on the why, how, who, and what of industry practices, offering insights for professionals and enthusiasts alike.
Episodes
Episode 59 - Basically institutionalized crunch
It's Friday and what a show we got for you today!
Shams and Fernando are tearing into the harsh new realities of the games industry where Microsoft’s new leadership has brought out the big black hammer, as well as slowing down on Game Pass deals according to our latest findings. But that's just for todays starters.
The main focus of this episode is the absolute juggernaut that is the Chinese gamin
Episode 58 - A reflective optimist - Tim Bender
While Fernando is off enjoying Italy, Shams is flying solo and holding down the fort for today's episode.
Today, our dear friend Tim Bender returns to talk about the incredible early access launch of Olden Era, which has by the time of today already sold over a million copies in just its first month!
The big topic, though, is Hooded Horse's leveled-up partnership with Griffin Gaming Partners.
Tim
Episode 57 - We need to drop out of college now - Johan Pilestedt Pt. 2
Did you ever wonder what happens when a bunch of cocky college students decide they're going to take over the games industry?
Spoiler alert: it involves immediate debt, panic attacks, and practically begging a publisher for survival.
Yes. We are back with our second part together with Johan Pilestedt.
In this episode, Johan walks us through the absolute gauntlet (we honestly couldn't find a more f
Episode 56 - From the ass end of nowhere - Johan Pilestedt Pt. 1
It's finally time for the first round of our exclusive deep-dive series with Arrowhead Game Studios CCO & Founder Johan Pilestedt!
In this kickoff episode, we take a closer look at Johan's roots in Gällivare, a remote Swedish mining town where Johan at one point practiced as a miner minor (or was it a minor miner..?). Having his mind blown by 3D dinosaur magazines and watching Aliens (at age e
Episode 55 - Recoup is self-destructive - Tim Bender Pt. 2
We are back with the second part of our conversation together with our good friend Tim Bender as the we dive deeper into the weeds of some of the most surprising moves in the industry lately.
Why not start with the backstory of the Ubisoft partnership on Heroes of Might and Magic: Olden Era for example?
Far from a simple hand-off, Tim explains how a long-term dialogue led to a specialist publisher
Episode 54 - 100 plus years - Tim Bender Pt. 1
In the first part of our two-parter, Shams sits down with Tim Bender from Hooded Horse to pull back the curtain on one of the currently most talked-about trajectories in modern indie game publishing.
From the logistical realities of scaling a team to the philosophical "final form" of a sustainable games business, Tim breaks down the internal logic of the Hooded Horse portfolio at the same time as
Episode 53 - "Blizzard of Oz" - Trent Kusters Pt. 2
Sorry for being late! After a not so welcomed water leakage at our producers studios, we are back with the second part of our conversation with Trent Kusters, the visionary co-founder of League of Geeks!
Shams rides this one solo since Fernando is on a trip across the pond and it's time to get into the "messy middle" of building a studio that lasts over a decade in an industry that sometimes feels
Episode 52 - Just get published - Trent Kusters Pt. 1
Imagine what happens when a new episode of The Business of Video Games Podcast all of a sudden release on a Monday! Almost as mindwrecking as if one accidentally started a career in game development, right? Well, say no more dear listener! In this episode, Shams sits down with Trent Kusters, co-founder of League of Geeks (Armello), who did just that.
In this first part of our two part interview wi
Episode 51 - Vibes based publisher - Sam de Boeck and Daniel Lyozov
Time for a one off with the great folks at Oro Interactive who currently is on a real victory lap with 300k units sold of Roadside Research within two weeks(!) and 400k units sold for Super Battle Golf within it's first week! Absolutely bonkers.
But not as bonkers as Shams who is once again away on a mission celebrating Swedish games at the Swedish Game Awards 2026, while Fernando sits down with o
Episode 50 - Keeping a business alive - Agostino Simonetta Pt. 2
50 episodes! Imagine that!
We are back again with our dear friend Agostino Simonetta in the second part of our two part interview. This time with Fernando taking the lead for a deeper one-on-one since Shams had to go and spread some democracy across the galaxy (as he should).
Fernando and Ago is immediately getting in to familiar territory with conference season, industry rituals, and the strange
Episode 49 - Ask for forgiveness, not permission - Agostino Simonetta Pt. 1
Friends! It's 2026 and we're back!
In this first part of a two-episode conversation, Shams and Fernando sit down with none other than industry veteran Agostino Simonetta. They talk through a career in games that was shaped less by master plans and more by circumstance, timing, and a fair number of hard calls.
From early production work to platform-side roles at PlayStation and Xbox, to what it act
Episode 48 - Shams and Fernandos Holiday Wrap Up 2025
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
Episode 47 - Let them Cook - Adam Boyes Part 2
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. T
Episode 46 - The man from the memes - Adam Boyes Part 1
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 conv
Episode 45 - The Emotional Battle - Chris Bourassa and Tyler Sigman Pt. 2
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 als
Episode 44 - Releasing Darkest Dungeon - Chris Bourassa and Tyler Sigman Pt. 1
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 thi
Episode 43 - Games industry myths - Season 3 finale
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 wh
Episode 42 - Should You Be Shadow Dropping Your Games? - Rebecca Lautner and Kirsten Lee Naidoo
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 maste
Episode 41 - Business War Stories - Jake Solomon
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/
Episode 40 - Forty Two immutable Laws of Games Business - Paul Kilduff Taylor
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 Pau
Episode 39 - The Indie Business Auteur - Xalavier Nelson Jr
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/
Episode 38 - Can a toolkit replace your Publisher? - Alexander Bergendahl
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/
Episode 37 - Modding Madness with - Scott Reismanis
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 tren
Episode 36 - The Return of the Biz Dev Samurai - Uwu biz
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/
Episode 35 - Deep Rock's Secrets - Soren Lundgard
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
Episode 34 - The Rise and Fall of an Entreprenerd
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
Episode 33 - Why some game companies succeed, while others fail - The Decline Phase - Kim Nordström Pt. 5
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
Episode 32 - Why some game companies succeed, while others fail - The Mature Phase - Kim Nordström Pt. 4
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/
Episode 31 - Becoming a Manor Lord - Tim Bender and Abhishek Chaudhry
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/a
Episode 30 - Survive Till 25 - Robert Bäckström
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
Episode 29 - Why some game companies succeed, while others fail - The Growth Phase - Kim Nordström Pt. 3
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
Episode 28 - WINGS - investing in diverse indies - Astrid Refstrup
In this episode we had a chat with Astrid Refstrup - CEO of Tripletopping and now in charge of Developer Relation & Business Development at the games fund WINGS who invest in gender marginalized teams. Astrid shares war stories and we talk about WINGS modus operandi. We try to figure out how one balances business excellence with idealistic goals.
You can find Wings and their application proces
Episode 27 - Why some game companies succeed, while others fail - The Startup Phase - Kim Nordström Pt. 2
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 startup phase of the companies journey. Kim shares insights and takeaways from other companies that mastered and flubbed this critical phase.
You can find more info on it here: https://updownupbook.com/
Episode 26 - The union of Art and Business - Rebekah Saltsman
In this extra long interview I had the privilege of talking to the illustrious leader of Finji - makers of Canabalt, Overland, Tunic and many more fun games. We delve into the details and get a good understanding of why Finji - being an artist centric developer - has managed to also build and grow as a business successfully over the years.
Finji makes some truly magical games - which you can find
Episode 25 - Ask Hooded Horse Anything - Tim Bender
We return yet again to Hooded Horse for a Q&A episode - but almost immediately things go off the rails. The idea was to pepper the CEO of Hooded Horse Tim Bender with dozens of questions from the community - but instead we barely got past the 3rd question thanks to Tim's insightful answers and ensuing discussion. Take out your notepads for this one kids.
Send us more questions to attack Tim wi
Episode 24 - How to Biz Dev The Game Developers Conference on a shoestring budget - Fernando Rizo
How do you make the most out of a trip to the annual Game Developers Conference if you're starting out in the industry or generally want to up your game? In this episode we invited Fernando Rizo back to the show to talk about how to get the most out of a GDC (Game Developers Conference) show attendance. If you're Phil Spencer this episode isn't for you - but you might still enjoy it Phil.
GDC is o
Episode 23 - Why some game companies succeed, while others fail - Kim Nordström Pt. 1
This is the first episode of a multipart series where we talk to Kim Nordström, alumni of Sony, King, Paradox Interactive and other companies who's written an exciting book called Up, Down, Up - The Journey of a Successful Game Company.
It's a must read for anyone interested in the business side of things in the industry. So no surprise then that we will cover the book over a number of episodes t
Episode 22 - Finding Paradox's Next Mega Hit - Sebastian Forsström
We return to the scene of (my) crime by having Sebastian Forsström from Paradox Interactive come visit us to talk about their newest publishing label Paradox Arc. Why does it exist, how is it different from the rest of the company and how do they operate? And we get to the heart of the matter - how does a big company innovate?
Visit Paradox Arc here: https://www.paradoxinteractive.com/our-games/
Episode 21 - Crowdfunding: By the People, For the People - Anya Combs
Crowdfunding first made a huge impact on the business side of our industry about a decade ago. There was even talk of it rendering publishers irrelevant. Things didn't play out exactly that way. Well, they did for Chris Roberts and Star Citizen - but not for the rest of us. We decided catch up with the eminent expert in the field - Anya Combs and learn how Crowdfunding is doing today as an option
Episode 20 - How to Market a game, if you’re a Hooded Horse - Tim Bender and Abhishek Chaudhry
The first episode of 2024 is about Hooded Horse marketing apparatus and how they make sure their games get visibility in a marketplace where 40 other games are released every day. Joined as always by Hooded Horse's own CEO Tim Bender and Director of Marketing Abhishek Chaudhry.
Episode 19 - Masters of Remasters - Larry Kuperman - Nightdive Studios
This episode features a conversation with none other than Larry Kuperman! Larry runs biz dev over at Nightdive Studios. They've been banging out cool remaster/remake after remaster/remake (mouthful). We dig into this particular nostalgic slice of the industry and try to understand this old/new part of the business.
Check out Nightdives games here: https://www.nightdivestudios.com/ and Larry can be
Episode 18 - How to negotiate with a Hooded Horse - Tim Bender
We return again to Hooded Horse (our home base for this season) and a favorite topic on the podcast - The timeless art of Negotiation! What's Hooded Horse's approach, what to do? What not to do? Tim Bender dispenses with some some tricks of the trade and it makes us a bit smarter. Hopefully.
Here's a link to the infographic mentioned in the episode: https://imgur.com/x5D02Be
Episode 17 - The State of the Swedish Games Industry 2023 - Johanna Nylander
How is the Swedish Games Industry doing? We catch up with Johanna Nylander Head of Analysis at the Swedish Games industry (the Swedish industry trade organization) and talk about the recent report about the state of the Swedish games industry. What do we have in the water that makes Swedes good at making games? Because it sure ain't tax breaks.
Episode 16 - Hooded Horse: The most Stable portfolio ever? - Tim Bender and Abhishek Chaudhry
In this episode we delve into the topic of strategy publisher Hooded Horse's portfolio - we've visited again by their CEO Tim Bender - but also their Director of Marketing Abhishek Chaudhry. Listen in on how they pick new games to sign, how they manage their games portfolio and give us a few handy tips for what they look for in a pitch and build.
For an overview of the Hooded Horse portfolio vis
Episode 15 - Can you make money in e-sports in 2023? - Andjela Kusmuk
Esports! that's right - e-sports??! It was the hottest thing on the planet 10 years ago - but where is it at today? We invited Andjela Kusmuk from TheAlliance.GG to talk about the team and where this competitive part of the industry is at today.
Episode 14 - What’s a Hooded Horse? - Tim Bender
In the second episode of this season we sit down with Tim Bender - the CEO of one the fastest growing new publishers on the planet - Hooded Horse. What is a Hooded Horse and how come they are succeeding when others are having a tough time?
This is the first episode with Hooded Horse this season - we'll be returning as a home base throughout the season and really dig into their business.
Episode 13 - Season 2 premiere - Industry catchup
Welcome back to a new season of the Business of Video Games podcast! In this episode we recap the state of the industry, talk about what's new for this season and talk about a little thing called marketing momentum - which Baldur's Gate 3 seems to have in spades.
Episode 12 - Saving a game release - Fernando Rizo
It's time for the season finale before we go on a summer break. We're joined by Raw Fury's Chief Sales and Business Development Officer - Fernando Rizo. He talks about one of their latest releases that might have gone very differently had it not been for some major decisions behind the scenes late in the game.
Episode 11 - Dwarf Fortress Post Mortem - Tanya Short
We invited Tanya Short back to the podcast to unpack how the Dwarf Fortress release actually fared. If you didn't catch episode 6 please give that a listen first to get insights into Kitfox's strategy heading into one of indie gaming's biggest releases.
Episode 10 - Early Access Against the Storm - Aron Pietron
In this episode we talk about Early Access! we're visited my Aron Pietron from Eremite Games - developers of early access smash hit Against the Storm. A roguelike fantasy city builder. You'll be an early access mastermind after this episode.
Let us know what you think!
Episode 9 - Deep Dive #3 - Valheim
We return with a deep dive episode on a topic requested by one of our Patrons - the mega success of Valheim! What drove its success, how was the follow-up, what are the learnings.
Episode 8 - What it’s like to be a VR dev - Oskar Burman
For this episode we're welcoming industry veteran Oskar Burman to the studio. After a long career in the mobile and AAA spaces, he founded VR developer and publisher Fast Travel Games back in 2016. Oskar shares an unfiltered look at what life is like as a VR developer, and what he believes is on the horizon for VR. Enjoy!
Episode 7 - Deep Dive - Life cycle of a game
We return with a deep dive episode on a topic requested by one of our Patrons - what does a typical life cycle of a (premium) game look like?
Episode 6 - How to publish a cult-classic - Tanya X Short
Shams and Daniel are joined in the studio by Tanya X Short, founder and creative director at Kitfox Games.
This recording took place just a few short weeks before the release of legendary cult classic Dwarf Fortress on Steam, published by Kitfox. Ever wondered what life is like for a publishing captain in the days leading up to the release of a lifetime? Well, here's your answer.
Trailer - Episode 6 - Tanya X Short
Trailer for the upcoming 6th episode - featuring Tanya X Short - co-founder of Kitfox Games.
Episode 5 - Culture eats strategy
New year, new season! In this episode we dive into the topic of culture. What is it, why is it important, and what are some examples of it done right - and wrong - in our beloved industry. Happy listening!
Episode 4 - Publishing 101 for indies - Guillaume Boucher-Vidal
Daniel and Shams are joined by Guillaume Boucher-Vidal, CEO and Creative Director at Nine Dots Studio, who has a radically different view of developer/publisher relationships than Shams does. Looking for an unfiltered view of what developers and publishers ACTUALLY think about each other? We've got you covered.
Trailer - Episode 4 - Guillaume Boucher-Vidal
Trailer for the upcoming 4th episode - featuring Guillaume Boucher-Vidal - CEO of Nine-dots studio.
Episode 3 - The life and times of a video games investor - Susana Meza Graham
We're joined by old friend (and former boss!) Susana Meza Graham, ex-COO at Paradox, nowadays games industry investor, advisor and board professional. You know all those things you've been too afraid to ask about video games fundraising and investing? Susana's here to give answers.
Trailer - Episode 3 - Susana Meza Graham
Trailer for episode 3 of the Business of Video Games Podcast. Our guest this week: Susana Meza Graham.
Episode 2 - A Rocket to the moon - Dean Hall
We're joined by none other than the master of PC games Dean Hall - CEO and designer at Rocketwerkz.
Trailer - Episode 2 - Dean Hall
Trailer for the upcoming 2nd episode of the podcast. This time joined by none other than the master of PC games Dean Hall - CEO and designer at Rocketwerkz
Episode 1 - Video Games Secret Sauce - Daniel Kaplan
In this first episode, we talk to industry legend Daniel Kaplan, ex-biz dev at Coffee Stain Publishing and Mojang, now CEO and co-founder at Keepsake Games, about the secret sauce of indie publishing.
As always - tweet at us https://twitter.com/bizofvideogames and @https://twitter.com/shamsjorjani and https://twitter.com/danielg0ldberg for comments, questions and suggestions.
Support us on Pat
Trailer 2 - Episode 1 - Daniel Kaplan
Premiere episode coming up - episode guest Daniel Kaplan - trailer 2
Trailer 1 - Episode 1 - Daniel Kaplan
Premiere episode coming up - episode guest Daniel Kaplan.
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