The Studios seem very reluctant to engage in new markets at all, nevermind giving heavy discounts. They would be much happier if you kept going down to the shops and forking over your cash for DVDs and BluRays. On the other hand, the App market is still new and I guess the big gaming studios are happy selling lots and lots of games at under £5 at the moment. They might start getting greedy and try to edge up the game prices towards the level of DS and PSP games, but it's unlikely as there are too many indie developers producing games like Angry Birds.
If DVD and Blu-Ray numbers start falling, the studios might start getting desperate and start paying more attention to digital content.