Welcome to the Era of "Inception Publishing"

The days of walking into a pitch meeting with nothing but a great idea and a request for $5 million to quit your day job are officially over. The "golden era" where a vertical slice was enough to secure full production funding has evaporated.

In my latest conversation with industry veteran Jason Della Rocca, we dissected the brutal realities of the 2025 funding landscape. While it feels like doors are closing, Jason argues that investors haven’t simply stopped spending money, they have fundamentally changed the burden of proof.

The most critical shift? The risk has moved entirely onto the developer.

What is "Inception Publishing"?

During our talk, Jason coined a term that perfectly encapsulates this new reality: "Inception Publishing".

The concept is simple but demanding: You essentially need to start the publishing process yourself to prove your game is publishable before a publisher will touch it. You are no longer just pitching a creative vision; you are pitching evidence.

As Jason put it, studios must now take the initial risk to generate a real "market signal" or traction to give investors the confidence to open their checkbooks.

The New "Minimum Viable Pitch"

If you are approaching publishers or investors today, a slide deck with just story art and mechanics is a "junior mistake". To survive the "Inception Publishing" phase, you need to have already executed a mini-campaign that includes:

• A playable prototype >> Not just a concept, but a tangible build.
• A live Steam page & Trailer >> Public-facing assets are now table stakes.
• Community Validation >> Viral social posts or Discord activity.
• Hard KPIs >> Wishlists, social reach, and prototype playtime data.

This creates a massive "gap" in the market: no one is funding the prototype phase. You must be the "first investor" in your own ideas.

The Data Backs It Up

The numbers paint a clear picture of this shift. According to recent market reports, while deal value has stabilized, the volume of early-stage deals has contracted significantly compared to the 2021-2022 boom.

• Deal Volume is Down >> Investors are making fewer bets, focusing only on "proven" winners.
• The "Flight to Quality" >> Capital is flowing to teams that can show retention metrics and community growth before the deal is signed.
• Self-Publishing as the Default >> With publishers becoming more risk-averse, many developers are finding that by the time they prove their metrics, they might as well self-publish.

The Silver Lining

There is a massive upside to this grueling requirement. Jason noted that if you build the internal muscle to conduct "inception publishing" successfully, gathering wishlists, managing a community, and validating the market, you are incredibly close to simply being able to self-publish successfully.

By the time you prove to a publisher you are worth the risk, you might realize you no longer need them to take it.

Full Interview Dropping Soon: This is just one take from my deep dive with Jason Della Rocca. We also cover why tax credits aren't the ecosystem savior you think they are, and his radical proposal to split publishers into "Funding" and "Agency" models. Stay tuned for the full release next week!

Sources: 

• Investment Data synthesized from PitchBook's "Venture Monitor," Konvoy Ventures' "Gaming Industry Reports," and WN Hub Analytics (2021–2025).
• Concept: Jason Della Rocca, "Inception Publishing" (Interview, 2025).

About and contact to Zoran Roso

Zoran Roso stands as a highly influential veteran of the video game and entertainment industry, with a distinguished career spanning over 25 years in global publishing, marketing, and leadership roles. His professional journey includes serving in significant executive positions at some of the world's most recognizable gaming giants, including Rockstar Games/Take 2 Interactive, Activision Blizzard, and Sony PlayStation, where he was instrumental in the marketing and strategic positioning of flagship AAA franchises and brands. Most recently, he leveraged this extensive experience as the Global Publishing & Marketing Director at Tencent Games, a critical role focused on expanding the company's international reach and developing successful go-to-market strategies for its massive portfolio of internal and partner studios.

Now operating as the founder of ZR Consulting, Zoran continues to drive success in the industry by advising major global publishers and developers. His firm specializes in crafting winning strategies for international brand development, optimizing live service performance, and executing flawless launch plans across all major platforms, including console, PC, and mobile. An active figure in the global games community, his career is marked by a clear strategic vision and a successful track record in translating complex products into global commercial successes.

Contact details:
ZR Consulting
eMail: zoran.roso@zrconsulting.de
LinkedIn: https://www.linkedin.com/in/zoran-roso/