Indie publisher Devolver Digital has recently made significant adjustments to its workforce, notably at Nerial, the studio behind the popular Reigns series. According to the company’s 2024 Financial Year report, staff reductions at Nerial have reached 40 percent as part of a strategic response to challenges faced with some of its latest releases. Currently, Nerial’s LinkedIn profile lists 13 employees, though it remains uncertain whether this figure reflects the pre- or post-layoff scenario.
The Reigns franchise has proven to be a financial success, accumulating over million in revenue since its inception. However, Devolver’s restructuring efforts extend beyond Nerial. Earlier in 2024, Polish developer Artificer experienced a workforce reduction exceeding 50 percent. This move was accompanied by the introduction of a new greenlighting process aimed at aligning projects more closely with current market dynamics and gamer preferences.
In a broader context, other publishing labels under the Devolver umbrella, such as Good Shepherd and Big Fan, have also faced similar challenges, resulting in layoffs that have affected more than half of their staff throughout 2024. Cumulatively, Devolver has seen a reduction of over 30 employees between 2023 and 2024.
Performance Insights
Amid these workforce changes, Devolver has shared updates on the performance of its game portfolio. Notably, Cult of the Lamb has achieved remarkable success, generating over million in lifetime revenue. Similarly, Astroneer has surpassed the million mark, while the Gungeon series has amassed over million in revenue and sold more than five million copies, with a notable 500,000 units sold in March 2025 alone.
In light of these developments, Devolver is also recalibrating its investment strategy concerning third-party titles. The average expenditure on these games, which stood at approximately .99 million in 2022, is projected to decline to .73 million in 2025 and further to .04 million in 2026. This shift underscores the company’s commitment to adapting to the evolving landscape of the gaming industry.
