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you need to keep in mind AAA studios usually have multiple games in the making and even 2-3 releases per year
Not much use discussing it without one, really.
usually AAA is considered ♥♥♥♥ anyways so AAAA doiesnt make it better just more ♥♥♥♥ as usually AA or just A indie games are better for the last 5 years
AAA are the big publishers and companies
AA are all the inbetween already established studios with a few games under their belt but not big enough to publish games not made by them and only workign on 2 maybe 3 agmes at a time with less then 1 release per year
Personally the rise of 'AAA' coincided with what I consider to be one of the weaker periods of gaming history so I really don't care about the whole naming scheme.
In video game terms it means the video game production. AAA supposedly has the highest production value/quality.
It only has indirect relation to the budget, theoretically a low budget title with a small team/single dev could reach AAA, given enough time, though it would take an effing long time....
That's coincidentally also why there can be indy Tripple A games. indy means something different. indy comes from independent. The game is made independent from outside influence, where the devs could do whatever they wanted. No investors, shareholders or publishers telling them what to do. As you can see indy doesn't say anything about production value/quality.
Though often those 2 are linked together as in independent studios usually don't have the budget or time to deliver AAA games, so it's understandable, that many people got used to use those 2 terms as opposites over time...