Gaming industry analysts say the Call of Duty franchise is underperforming, and 2025 is “the worst possible year” for that to happen, according to a new report collecting industry comments. Specifically under scrutiny: the performance of the most recent game, Call of Duty: Black Ops 7, which started selling in November. Analysts are citing everything from increased competition in the shooter market to strategic business decisions by publisher Activision and its parent, Microsoft.
While the shooter did reach first place in the PSN digital charts for PS5 downloads in November, other metrics indicate a precipitous decline in end-user interest relative to prior series titles. On PC, for example, concurrent players on Steam reached a peak of only 100,000 users shortly after launch. That number is a significant indicator of lowered interest, enough that industry analysts have begun questioning the title’s overall performance one month into its lifecycle, even with the Season 1 update that launched last week.
In interviews with Eurogamer, analysts Chris Dring and Rhys Elliot detailed the main causes of the apparent struggle. Elliot said the franchise’s woes are due to “a combination of community burnout, questionable creative and business decisions by Activision/Microsoft, and strong competition.” Particularly, 2025 has been a phenomenal year for competitors. DICE and EA hit it big with Battlefield 6, which reaped record concurrent player counts, while ARC Raiders solidified its position as a main contender in extraction shooters, even netting a Game Awards nomination for Best Multiplayer. The criticism also cuts directly to Microsoft’s strategy in wake of its acquisition of Activision.
Elliot claims that the decision to launch Black Ops 7 straight into Xbox Game Pass on day one has “cannibalised traditional full-price game sales on Xbox and PC.” While good for the subscription service, this may impact overall sales revenue from the game, repeating concerns raised after Black Ops 6 saw similar performance debates. Also, Activision moved to alleviate previous community dissatisfaction by axing the unpopular Carry Forward feature, which would have stopped players from transferring humorous cosmetics from older titles to try and keep the newest installment “more grounded and authentic.”
