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I consider milking as sacrificing quality for the sake of faster development cycles and money, or releasing more games into the franchise than what is actually needed. Ports,emulation and re-releases are fine as long as they are reasonably priced.

I have created an amazing formula to work out if a franchise is milked or not.

Number of games released on one console (divided by) the time in years between the first and last installments (times by) 10,000 (divided by) the average metacritic score squared.

If the final number surpasses 1, the franchise is milked.