The theory goes that as consumers seek to cut excess spending, they'll buy fewer full-priced games, forcing publishers to lower prices to increase sales.

In fact, Lazard analyst Colin Sebsastion suggests the trend may have already begun, as Activision Blizzard unexpectedly lowered the MSRP of Call of Duty: World at War, which released in early November, from $59.99 to $49.99 just before Christmas.

"While the move may be part of an annual promotion, we believe a $10 discount on one of the industry's top holiday releases highlights the risk of lower software pricing moving into the new year," he wrote in an investor note.

Along with Call of Duty: World at War, Sebastian noted that Guitar Hero World Tour got a price cut, as well as some titles from publishers Electronic Arts and Ubisoft.