Wedbush Morgan analyst Michael Pachter says that Electronic Arts and Activision's mismanagement of big first-person shooter titles could end up contributing to another month of "terrible" software sales for the game industry in October. He is referring to Medal of Honor: Warfighter, a game that was supposed to be a major release for EA in October and Activision's 007 Legends, which fared worse than Medal of Honor. Both games were poorly received by critics: Medal of Honor: Warfighter has an average Metacritic score of 51, while 007 Legends earned an average Metacritic review score of 45.
Citing those poor Metacritic scores, Pachter expects that sales number for both games will be well below expectations and will deliver to investors "horrible software sales results [for October]," leading the investment community to conclude that the "video game industry is in a state of persistent decline.""
EA admitted last week during its conference call to discuss its latest results that it was disappointed with the reception and sales for Warfighter.
"Games of poor quality stand out in an era when the publishers release so few games overall, and it is especially disheartening to see two of our three outperform-rated publishers deliver such disappointing content," notes Pachter.
He does note that there were two decent games in October: Bethesda Softworks' Dishonored and Take-Two's XCOM: Enemy Unknown, but doesn't think they will match up against last year's big October release: Battlefield 3. He also left out WWE 13 because it will likely impact November's sales due to it being was released on October 30…