Santa Ragione's provocative horror Horses sells 18,000 copies - but it may not be enough to save the studio - GamesIndustry.biz
December 18, 2025 at 7:35 PM
Santa Ragione’s Horses sells 18,000 copies after Steam and Epic bans — but the studio’s future is still uncertain
Italian indie studio Santa Ragione reports that its provocative horror game Horses has sold more than 18,000 copies. Despite strong word of mouth, GOG’s public support, and extensive coverage of the game’s deplatforming, net revenue totals about $65,000 — not enough to secure the company’s long-term future.
Key numbers and context:
- 18,000+ copies sold since launch
- Approximately $65,000 in net revenue
- Removed from Steam after Valve declined to host it; Epic Games Store later withdrew support
- GOG supported the release; player reception has been very positive
Why it matters:
- Losing access to Steam and Epic limited the game’s reach to the largest PC audiences, making recouping development costs unlikely.
- Prolonged development and platform setbacks forced the team to juggle funding, take on debt, and accept outside work, fragmenting the studio.
What’s next for Santa Ragione:
- Current sales help cover royalties and outstanding loans from the extended development period.
- If sales remain steady, the team may be able to fund a new prototype, but members have taken other jobs and reuniting the full team will be difficult.
Broader industry implications:
- Santa Ragione is calling for clearer rules, transparent processes, and accountability from near-monopoly distribution platforms.
- The studio warns that many games are quietly banned, delisted, or stuck in indefinite review for unclear reasons, with developers often too concerned about future approvals to speak out.