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I've been slightly confused when people claim franchises to be milked, etc. What I dont get is what exactly is considered for a franchise to be considered to be milked?

I was always under the impression that Milking is continously releasing a game for a specific franchise over and over again but not doing too well in terms of profit and sales.

So for example, Guitar Hero I consider to be a milked franchise since for every game released, it keeps flopping and low sales.

But when people say CoD is milked, Assassin's Creed is milked, hell claims of Halo being milked are the ones I dont quite understand.

I fail to see how these franchises are considered milking when for every game they release, they are highly acclaimed and massive in sales. As long as the franchise continues to produce big selling and highly acclaimed titles, that shouldn't be considered milking right?

Or do I have the definition of 'Milking' wrong?