I actually think college sports games are niche enough for a non annual release. I see it talked about a lot with regards to NBA 2K, Madden and The Show and it makes no sense to me. Not only are they contractually obligated to release yearly, but they sell well each year. Why miss out on all that revenue each year? A gamer can simply wait a year or two between releases and see a larger gameplay difference if that's what they want.
College games, even the vaunted NCAA Football, only sold a fraction of what the pro games sold. Theres a market and I'm sure money to be made but it's not as much. They could release every few years when theres more demand and presumably improvements to the engine via the pro game. I think it could work with College Hoops and even EAs MVP College Baseball.
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