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As a rule of thumb, the publisher/developer will see $25-30 from a $60 game, and 20-25 for a $50 game. So if you had a high-end budget of 20m and you're selling your game on 360 or PS3 at $60, you'd need to sell about a million copies, yes. Maybe a little less, around 800K. 

That's a pretty high barrier, but 20m is pretty big budget. Most games (not just non-budget, but most) don't come in that high.