If it sounds complicated, it is because it is.
There are small groups who develop (ie. conceive the game and code it) and decide to release it on their own (marketing, sales) and use channels like Steam.
There are groups that develop and sign deals with a larger company for marketing and agree to share the revenue – ie they share in success or failure
There are groups that develop games and sell it to the bigger company for more or less a lump sum, so the risk of success or failure goes to the bigger company.
There are groups that are paid by the big companies to develop a game, so they are essentially contractors. The groups don’t own the final product.
There are groups that are part of the big companies, ie in house developers.
A big company might start developing a game but they agree to spin it off into another company or sell it off to another company if they feel the game doesn’t “fit” their business.
There are many variations of business deals and no company is obliged to operate ONLY one type. A company might do any or all of the above.
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