Alex Mochi, the developer of the indie hit Rise of Industry, reveals in a new video the harsh reality of going broke despite millions in revenue.
Alex Mochi, the indie developer behind the acclaimed strategy title Rise of Industry, has sparked conversations across the gaming world with a new video revealing the stark financial reality behind his studio’s biggest success. In it, Mochi recounts how a game that generated millions in revenue left him “broke, hospitalized, and selling my life’s work for $5,000.”
From AAA to Indie: Mochi’s Journey
Mochi’s journey into game development began over a decade ago. Having worked on AAA titles such as World of Warcraft and Planet 51, he acquired firsthand experience in large-scale production and collaborative teamwork. In 2015, he transitioned into indie development, founding Dapper Penguin Studios and embarking on the creation of Rise of Industry, a strategy simulation that allows players to build sprawling industrial empires.
The game quickly became a hit. Mochi credits the early traction to the support of online communities: “A couple of nice guys from Reddit helped us get started, and the game blew up on itch.io, becoming the most purchased paid title on the platform in 2017.” After navigating the Steam Greenlight process, the game went into early access, eventually selling over 350,000 copies and grossing nearly $4 million across all platforms.
When Success Isn’t Enough: Financial Struggles Behind the Scenes
Despite the apparent success, Mochi says the income was fragile. Steam’s 30% cut, refunds, regional pricing, and gray market sales rapidly depleted revenues. But the biggest challenge, he claims, was the publishing deal with Kalypso Media, under which Dapper Penguin Studios received an advance of $75,000 and a revenue split that seemed fair at first glance.
“Our momentum hid problems, and I couldn’t see how fast income disappears,” Mochi explains. By the time the game’s initial sales slowed, he says Kasedo Games – the publisher’s digital sub-label – had earned over $1 million, while his team was left with barely enough to cover overhead, taxes, and salaries. By 2021, the studio faced debts of $140,000, forcing Mochi to sell the IP for a fraction of its perceived value.
Kasedo Games has disputed some of Mochi’s claims, noting that the $5,000 figure does not include $45,000 received from advanced royalties and that overall revenue calculations must account for taxes, platform fees, localization, marketing, and production costs. “The revenue share was used to pay back advance royalties and cover all costs for localization, QA, PR, marketing, and distribution,” the publisher explained.
Lessons Learned: Transparency, Regret, and Moving Forward
The video is part confession, part cautionary tale. Mochi openly acknowledges his own missteps, from poor planning to unrealistic expectations, and emphasizes that publishers are not inherently antagonistic: “Without their support, Rise of Industry could’ve remained a small game on itch.io, and I would never have had the chance to showcase it at events like Gamescom.”
Mochi’s transparency has resonated with many in the indie community, highlighting the harsh realities behind seemingly successful games. While the sequel, Rise of Industry 2, has already been developed by SomaSim and is set for a console release next month, Mochi has chosen to focus on new projects, armed with lessons learned the hard way.
Reflecting on the journey, Mochi says, “I don’t regret making Rise of Industry. I regret how I ran it. It’s a source of immeasurable joy and pain.” His story serves as a reminder that even critically acclaimed games can mask complex financial and personal challenges – and that success on the charts does not always translate to security for the creators behind them.