Modern Warfare 3 had a strong start out of the gate, but hasn't shown the same vigor in sales as Treyarch's 2010 outing, Call of Duty: Black Ops - at least, according to industry analysts. Could the franchise fatigue we've seen across the pond be setting in here as well?

According to comments made to Gamasutra, the firm estimates the total volume of sales for Modern Warfare 3 are down, somewhere around 4.2%, but it's not necessarily due to franchise fatigue. The firm posits that casual gamers are using their consoles more for streaming content (such as Netflix), and purchasing fewer games.

Last month, year-over-year software sales continued to decline. The estimated sales for Modern Warfare 3 are for boxed copies only, mind you - Activision is making lots of cash on digital wares too.

Activision has yet to comment on our inquiries, but with their annual earnings call due in the next couple weeks, we should hear one way or the other soon enough.