Easy. When Modern Warfare 2 came out it was clearly a shitty Xbox 360 port with none of the features of CoD 4 or even World at War and was a bit middle finger to the community. At the same time EA noticed that the AAA shooter market on the PC had just gone unfilled and spent some extra time polishing up a port of Bad Company 2 which was pretty successful.
Activision tried gaining the audience back with Black Ops, but now there was a viable competitor on the market with frankly more compelling gameplay. During this time Team Fortress 2 was also going extremely strong and was basically the king of the FPS on the PC for a few years there.
Activision realized it was a waste of time. The PC community is too loyal to single games, is far more diverse with the player audiences spread out over hundreds of games rather than dozens, PC gamers are more critical of DLC, and that a PC game requires more long-term support due to the easily modified nature of the device (new drivers, hardware, new hacking software, OS updates, etc) so they basically said "**** it" and moved on.
So today the problem is not only that the CoD series aren't very good games anymore, their PC versions aren't the greatest because Activision doesn't bother with long term support.
CoD games on the consoles do not have a lot of these issues. They aren't up against as much competition. The daily player base for retail FPSs is much higher than it is on the PC, so even if you release a game each year, you'll still have a large enough market to sell too. Consoles don't require nearly as much long term support as the PC. Consoles don't have nearly the hacker issue that the PC has (most CoDs on the PC are ruined by cheaters).
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