Not even the might of a Grand Theft Auto 5 release this year could turn around this year's trailing software sales, according to industry analysts.
"I am not confident that it will be out this year, and even if it did, we would still likely see a modest decline in console software sales," Colin Sebastian, an analyst at Robert W. Baird & Co, told VentureBeat.
"Given the current momentum of the market, I doubt any major releases, even one of GTA V's size, would push the physical markets back into the positives,"
EEDAR analyst Jesse Divnich agrees. "Given the current momentum of the market, I doubt any major releases, even one of GTA V's size, would push the physical markets back into the positives," he said. "The traditional gaming sector is under an enormous amount of downward pressure at the moment, and it will require a strong catalyst to shift that momentum."
Wedbush Securities man Michael Pachter believes the game could generate as much as $700 million, but even that would be 'less than 10 percent of the expected overall software sales this year', and not enough to boost sales back up to par.
GTA 5 has been strongly hinted for release this financial year (ending March 31 2013) but it's uncertain if that launch will come before or after Christmas. Check out this GTA 5 rumour round-up video for a complete report of everything we know so far.