Big budget movies are being pipped to the record-breaking post by triple-A gaming titles as Call of Duty: Modern Warfare 3 swept to $1 billion of sales in its first 16 days of release.

Its vast success has led Activision Blizzard CEO Bobby Kotick to put the Call of Duty franchise on a par with Star Wars.

The 16 day rush to $1 billion makes Modern Warfare 3 the fastest-selling entertainment product of all time, which is hardly surprising since Activision claimed the game enjoyed the "biggest entertainment launch ever" in November too.

Sign of the times

After shifting $400 million-worth of games in its first 24 hours of release, the first person shooter made it to $1 billion-worth just fifteen days later.

That's quicker than the previous entertainment record holders, Avatar and Harry Potter and the Deathly Hallows: Part Two - both movies made it to $1 billion after 17 days.

Activision Blizzard CEO Bobby Kotick is quite happy with the situation, describing Call of Duty's contribution to popular culture as "indelible".

"Call of Duty is now amongst that rarefied group of sustained franchises like Star Wars, Harry Potter and Lord of the Rings and the National Football League that attract or engage tens of millions of people every year or every new release," he said.

But 2012 is set to be a big year for gaming as the PS Vita and Nintendo Wii U both burst onto the scene – will Modern Warfare 3 be able to hold on to its crown or will the casual gaming army rise up and quash it?

Waiting eagerly for the PS Vita's February launch? Here's everything you need to know about Sony's new handheld console in handy video format:

Via The Guardian