(NewsNation) — On Wednesday, Microsoft announced that it's raising the Xbox Game Pass Ultimate subscription price by 50% to $29.99 per month, effective immediately.

In the announcement, Microsoft also revealed updates to the other two tiers of the Xbox Game Pass. The Xbox Game Pass Core and Standard plans will now be known as the Essential and Premium plans, respectively, but will not increase in price.

In addition to the price hike, the top-tier Ultimate Game Pass is getting its "most expansive upgrade yet," according to the announcement. Ultimate subscribers will now have access to more than 400 games, over 75 day-one releases and improved streaming quality up to 1440p.

The Game Pass price increase comes on the heels of Microsoft's Sept. 19 announcement about price hikes for the Xbox

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