It certainly works for Activision's Call of Duty franchise. But then again, they've got two teams trading off on development (Infinity Ward and Treyarch).
As for Battlefield , it's only done by DICE, and currently, publisher Electronic Arts has no plans to annualize the esteemed series. During a VideoGamer interview , Battlefield 4 executive producer Patrick Bach was asked if they'd launch a new title in 2014.
Bach responded that DICE "can't build a game every year," and he added that for fans who want BF action all year round, there's plenty of Premium content. But because Medal of Honor is on hiatus after the disappointing Warfighter , this means EA won't have a competitive shooter next year (or so it appears). Titanfall from Respawn Entertainment is coming, but that's exclusive to the Xbox One; only multiplatform titles could possibly hope to challenge CoD in the long run.
That all being said, Bach did address the idea of Battlefield becoming a persistent world with new maps and campaigns:
"Maybe it [could]. You're touching upon something that we've actually started noticing as well. Maybe it's a really smart thing to do; maybe it's the completely wrong thing to do. We can see that some games are actually doing it already, like MMOs. You have some free-to-play games [that] continue on the same platform. So I think it's more about the audience and getting all the ducks in a row, so to speak."
The fans would probably be okay with that, and I sometimes wonder why Activision hasn't done it yet for CoD. World of Warcraft seems to be fading, but you've got another potential MMO right under your nose…as far as I'm concerned, CoD has been at least part MMO for years, anyway.