Both Ubisoft and Take Two have told investors that they don’t expect skyrocketing game development costs to accompany the next console generation.

"What we've said is that, for the first two years of those machines, the costs will not increase because we can use a lot of the engines that we've already created," said Ubisoft CEO Yves Guillemot.

Take Two CEO Strauss Zelnick’s sentiment was similar.

“We don’t have any reason to believe our development budgets will change significantly,” he said.

“If anything we have become – group-wide – much tighter in terms of how we spend our money.

“We can’t say specifically, but no we don’t expect to see a meaningful change in what it costs us to release these top quality products.”

These statements go against the theories of Epic Games founder Tim Sweeney, who last November expressed his belief that next-gen development would be up to twice as expensive for his company.

Such predictions led the company to develop Unreal Engine 4, which Epic president Mike Capps claimed would keep costs down for other developers via a host of new features.

Of course, there are also rumours that both Sony and Microsoft’s new consoles are much closer to a traditional PC in design, which would also help minimise development expenditure.

On Sweeney's side is Activision CEO Bobby Kotick, who drew on personal experience to arrive at his conclusion.

"This is my twenty-second year doing this, and every single console transition we've seen an increase in development costs," he told investors.

"Over long periods of time it gets smoothed out, but I would say this is not a transition where that's going to be an exception.

"We're going to have to figure out how to take advantage of the unique capabilities of new hardware, and that requires new skills and investment in tools, and technology and engines."