Microsoft's Xbox has raised the price of the highest tier of Game Pass by 50% and expanded its offerings under the videogame subscription service to include more games, enhanced cloud streaming and a revamped rewards system.

Xbox will now charge $29.99 per month for a Game Pass Ultimate subscription, $10 higher than earlier, the console maker said in a post on Wednesday.

In return, these subscribers will get more than 75 first-day releases a year, including premium titles such as "Call of Duty: Black Ops 7", and "Ninja Gaiden 4."

Microsoft had last month also announced price hikes for its consoles in the U.S. for a second time this year due to tariff-induced cost pressures.

Xbox has made big bets on its subscription service by offering more premium titles and cloud gaming access, as it seeks to establish a foothold in the games-as-a-service industry to counter sluggish console sales and economic uncertainty.

Alongside the price increase, the company rebranded its cheapest and middle tiers to "Essential" and "Premium", and included unlimited cloud gaming in them, as a part of its push to allow gamers to stream titles anywhere.

Prices for the other two tiers remain unchanged, Xbox said.

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