Not worth the risk except for Call of Duty and Battlefield, says Free Radical founder Steve Ellis

Free Radical founder Steve Ellis has this advice for studios looking to start their own unique FPS franchise- stay away.
Ellis made a splash by writing the multiplayer element of Rare's Goldeneye N64, before going on to found Free Radical and launching the Timesplitters series.

"Nobody really buys any FPSes unless they're called Call Of Duty," he said in an interview with Edge.
"I guess Battlefield did okay, but aside from that pretty much every FPS loses money. I mean, Crysis 2: great game, but there's no way it came anywhere close to recouping its dev costs."
Ellis's studio was scooped up by Crytek last year, sparing it the humiliation of administration after no publisher could be found for Timesplitters 4.