Yeah, I forget where I've read it. A number of publishers/developers (EA, Epic etc) are shifting back to be more PC focused. I'll see if I can find the stories.
Problem is, while there are one or two franchises on consoles that make money (MW, GoW), the rest are pretty much universally losing it. There are a number of reasons for this but console users are generally uninformed of what's out there, like to stick to what they know (MW a case in point), and a lot buy solely via the second hand market, which makes the industry nothing.
The PC market is making billions via digital distribution, with a lot of more niche titles doing very well, where they'd fail (and have failed) on console. Ofc these sales don't show up in NPD numbers and the like as they don't count digital distribution, which the PC market has largely shifted to.
This is nothing new though. Console sales always go in cycles, with a tail off towards the end of the hardware's useful life. The problem is, the economic climate is such that Sony and Microsoft are reluctant to release new consoles, and want to eke out as much as possible from what they've got, to the detriment of publishers and developers. It will be interesting to see what form the next generation of consoles takes. They're likely to take a leaf out of the PC and mobile market's book and move to DD, and the hardware is unlikely to be as cutting edge as it has been in the past (Sony took a massive hit with Cell for example). We'll see how it plays out.