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Call of Duty's Mammoth Development Disclosures

Author : Gabriella Feb 06,2025

Call of Duty

Record-Breaking Call of Duty Budgets: A Look at the Rising Costs of AAA Game Development

Call of Duty games have shattered industry records, with development budgets reaching a staggering $700 million. This surpasses even the massive budget of Star Citizen, highlighting the escalating costs in the AAA video game market.

Activision's recent disclosures revealed that three Call of Duty titles boasted budgets ranging from $450 million to $700 million. This represents the highest expenditure ever recorded for the franchise, with Black Ops Cold War leading the pack.

The creation of AAA video games is an incredibly resource-intensive undertaking, demanding years of development and substantial financial investment. While indie games often thrive on smaller budgets secured through platforms like Kickstarter, the AAA landscape operates on a vastly different scale. Blockbuster game budgets have consistently increased, dwarfing even the "expensive" titles of previous generations. Games like Red Dead Redemption 2, Cyberpunk 2077, and The Last of Us Part 2 were considered costly, yet they pale in comparison to the recently unveiled Call of Duty figures.

According to Game File, Activision's head of creative for Call of Duty, Patrick Kelly, revealed in a December 23rd California court filing the budgets for Black Ops 3, Modern Warfare (2019), and Black Ops Cold War. Black Ops Cold War, exceeding $700 million, stands out. Despite its massive budget, the game sold over 30 million copies. Modern Warfare (2019), with a development cost exceeding $640 million, sold 41 million copies. Even Black Ops 3, the least expensive of the three at $450 million, still significantly surpasses the $220 million budget of The Last of Us Part 2.

Black Ops Cold War's $700 Million Budget: A New High Water Mark

The budget for Black Ops Cold War sets a new record in the video game industry, surpassing even Star Citizen's substantial $644 million development cost. This is particularly noteworthy considering Black Ops Cold War's funding came from a single company, unlike Star Citizen's eleven-year crowdfunding campaign.

The escalating trend in game development budgets is undeniable. Consider Final Fantasy VII, released in 1997, a graphical and technical marvel of its time, with a then-massive $40 million budget. Today, that figure seems minuscule compared to current AAA game costs. Activision's recent disclosures serve as stark evidence of the ever-increasing financial demands of the video game industry.