In an effort to bring more clarity to the nature of publisher-developer relationships, Voyer Law has analyzed over 100 publishing agreements signed between 2017 and 2025. The agreements primarily involved independent game developers and publishers.
Publishing Agreements 2025
This analysis provides a rare glimpse into an area of the gaming industry that typically lacks publicly available data. While the findings may not fully reflect every aspect of current partnerships, they offer a strong overview of industry practices, particularly in the context of financial terms, intellectual property rights, and contractual obligations.
Publishing Agreements in 2025: Voyer Law Analysis
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Agreement Structures and Revenue Shares
Voyer Law categorized the reviewed agreements into three general types: those with an advance payment, those without any advance, and those limited to console publishing arrangements. Agreements that included an advance payment, where the publisher helped fund development, revealed an average developer revenue share of 58.2 percent and a median of 50 percent. The most favorable agreement for a developer offered a 90 percent share, while the least favorable provided just 2.5 percent.
In agreements without an advance, developers tended to receive a higher share of revenue, with an average of 67.9 percent and a median of 70 percent. These agreements ranged from a low of 50 percent to a high of 86 percent in favor of the developer. For console-specific publishing deals, the average share was 63.1 percent with a median of 60 percent, and the range varied from 50 percent to 85 percent.
Publishing Agreements in 2025: Voyer Law Analysis
Advance Payments and Recoupment Terms
The analysis found that the average advance amount across agreements was $674,861, with a median of $300,000. Advance payments varied widely, from as low as $20,000 to over $6 million. In 95.5 percent of agreements involving an advance, funding was provided upfront. Additionally, 79.7 percent of those agreements included payments tied to specific development milestones. Recoupment clauses were present in 93.9 percent of agreements, with 48.4 percent of those specifying that recoupment must occur before the developer begins receiving revenue share payments.
Publishing Agreements in 2025: Voyer Law Analysis
Intellectual Property and Sequel Rights
In the majority of cases, developers retained ownership of their intellectual property. Specifically, 96.4 percent of agreements with an advance ensured that IP rights stayed with the developer. Even in situations involving a breach of contract, 91.4 percent of these agreements allowed developers to maintain control of their IP. In all agreements without an advance or those focused on console publishing, developers kept their IP rights.
Sequel rights were more commonly addressed in agreements with an advance, appearing in 63.49 percent of such contracts. Of these, 56.41 percent granted exclusive sequel development rights to the partner, while 43.59 percent allowed only for the opportunity to negotiate. In agreements without an advance, 47.06 percent contained sequel clauses, with 85.71 percent of those allowing the partner to enter negotiations. Console-specific agreements were less likely to address sequel rights, with only 25 percent including such provisions.
Publishing Agreements in 2025: Voyer Law Analysis
Merchandise Revenue and Audit Rights
Revenue from merchandise sales was also part of many agreements. In deals with an advance, 56.5 percent included merchandise revenue share clauses, with an average of 48.3 percent in favor of the developer. Among agreements without an advance, 50 percent included such terms, averaging 47.2 percent for developers.
Console publishing agreements included merchandise revenue sharing in 25 percent of cases, with an average developer share of 40 percent. Audit rights, which allow developers to review publisher financial records, were included in 83.3 percent of agreements with an advance, 69.3 percent of console-focused deals, and 47.1 percent of agreements without an advance.
Contract Duration and Renewal Clauses
The term length of contracts varied by agreement type. Agreements with an advance had the longest average duration at 6.84 years, while those without an advance averaged 4.18 years. Console publishing agreements were typically shorter, averaging 3.7 years. A majority of agreements—85 percent—were for a fixed term, and 49.2 percent of all contracts included automatic renewal clauses.
Summary of a Typical 2025 Publishing Deal
Based on the agreements analyzed, a typical 2025 publishing contract includes an upfront advance payment of approximately $674,800. Developers usually retain full IP rights and are granted audit rights. The revenue share averages 57.7 percent in favor of the developer, often disbursed in tranches. Sequel negotiation rights are generally included, and developers can expect to receive around 48.3 percent of merchandise revenue. The standard contract duration is six years and frequently includes an auto-renewal clause.
Publishing Agreements in 2025: Voyer Law Analysis
Conclusion
Voyer Law’s analysis offers a valuable resource for developers navigating the publishing landscape in 2025. While the data may not capture every nuance of modern publisher-developer relationships, it presents a grounded overview of contractual norms, financial arrangements, and rights management in the current gaming industry. This kind of transparency is especially important for independent developers seeking to make informed decisions in an increasingly complex and competitive environment, including those exploring opportunities in web3 and other emerging spaces.
Source: Voyer Law
