Bethesda Softworks’ Todd Howard says Fallout 4 should be out within the next three years, not another ten.

His comments come from a recent article over on Reuters focusing on sequels racking in the big bucks for game publishers. While Howard obviously didn’t go into details about the forth installment, he did admit that ten years between Fallout games is a bit long. "I think there’s this nostalgia factor," he told Reuters, saying that it was good for people to miss things.

And he may be right. Sequels are an easy moneymaker because the IP is already established, the characters are well-known. This fall, gamers will see a large helping of games returning to popular franchises including Epic Games’ Gears of War 2, Lionhead’s Fable 2, Insomniac’s Resistance 2 and Bethesda’s Fallout 3. All four titles are deemed as a sure bet - high profile titles in fact - because the previous installments (1) fared so well financially and (2) did extremely well with critics and fans alike.

But how long is too long between installments? How long can gamers suspend their interest in a franchise, especially when ten or more years have passed? Time can be a cruel beast for any form of media: just look at the lackluster reaction to the Star Wars prequels or id Software’s Doom 3. 3D Realms, developer of the highly praised FPS Duke Nukem 3D, released on the PC back in 1996, has yet to produce a completed sequel - Duke Nukem Forever - since its development was officially announced in 1997.

Yet while ridiculed as "vaporware," fans flock to every bit of information about the Duke Nukem sequel, every screenshot despite the 11-year timeframe. And now Bethesda’s Fallout 3, rearing its head ten years after Fallout 2, is one of the most-anticipated releases this year. Despite the long wait, gamers still yearn for the familiar. "It’s certainly a liberating experience when you’re no longer arguing over the main character’s name, or waiting for basic systems to be implemented," said Ted Price, president and CEO of Insomniac Games, the developers behind Resistance 2. "The end result is usually a game that’s bigger, more polished and has more innovative features than the original game."

Even with Dead Space released earlier this week, EA Games label President Frank Gibeau is already talking about a full-blown Hollywood movie as well as Battlefield: Bad Company 2 and an Army of Two sequel. Companies such as Electronic Arts are launching games with additional Ip-related media -including novels, comic books, and animated features- in hopes to set a huge foundation for later entries.

"People used to think of things like that as a distraction, but I think our game is stronger because of the influence of the comics and the animated movie," EA Redwood Shores’ general manager Glenn Schofield told Variety. "Everyone internally is looking at ’Dead Space’ as the model now because there’s just so much content that we’ve generated."

While sequels bring in more revenue by reaching out to existing fans, they serve another purpose: enticing new fans to come into its universe. Epic Games’ lead designer Cliff Bleszinski didn’t just think about the die-hard Gears of War fan returning to the battlefield, but aimed towards the casual gamer not familiar with the Gears of War mythology. "We want casual gamers to play the game and be sucked into the universe and finish the game," Bleszinski told Reuters. "We want them to potentially finish with a friend and become a fan of the characters and the setting."

Sequels are also a good way to set things straight in regards to previous design flaws and engine errors, to not only improve on the old but to bring a whole new experience to veteran gamers and newcomers alike. For Peter Molyneaux, creator of Microsoft’s Xbox 360 exclusive Fable 2, he wanted to not only attract the mainstream audience, but create an improved gaming experience that would satisfy the 3 million consumers who bought the original Fable. This time around, gamers can do whatever they want: get married, have kids, play mini-games and more. But more importantly, he implemented the character creation system in which the player’s character are not only limited to the player’s imagination, but evolves along the way.

Molyneaux’s Fable 2 is one of many that kick off a season of sequels, however there are other gems to check out as well including LittleBigPlanet, Far Cry 2 and Dead Space. While it may appear that sequels actually do saturate the market, at least gamers have quality titles to look forward to. As for Fallout 4, it’s probably best just to forget about that game until Fallout 3 has come and gone.

Stay tuned to Tom’s Games for reviews of the games listed above.