A new Xbox One update brings players the ability to buy and download Xbox 360 backward compatible games directly on the new console.

This is just one of several new features the update will add to the console when it releases on Wednesday.

"Fans have spent more than 30 million hours playing Xbox 360 games on Xbox One and so it's natural that being able to purchase Xbox 360 Backward Compatible games on Xbox One ranks as one of your top requests," wrote Xbox's Major Nelson on his blog when Microsoft initially announced the update. "With this update, you'll be able to do so! Find and purchase Xbox 360 Backward Compatible games the same way you would Xbox One titles and, once purchased, Xbox 360 Backward Compatible content will automatically download to your Xbox One and be ready to play!"

Another new feature allows players to have a total of 16 people in a party chat, letting more players communicate with each other simultaneously while in-game. However, that's not all: players will also now have the ability to stream their chats live on Twitch. Players who don't want their audio included on Twitch can opt out, but can still continue to chat in their party. The Twitch broadcast will also allow players on Windows 10 PCs to participate.

The update also adds new party chat options, including giving players a preference setting on how they're heard: through their headset, speakers or both. Microsoft also made improvements on game DVR recording lengths, achievement progress tracking and video playback in the activity feed.

This update also improves thumbstick precision on the Xbox Elite wireless controller.

"We heard from fans that you wanted to see improvements to the behavior of the thumbsticks on the Xbox Elite Wireless Controller, particularly when you are moving the thumbsticks diagonally," wrote Major Nelson. "Based on this feedback, we've created a new method to calculate the position of the thumbsticks consistently, enabling thumbstick response that is more in line with what you are expecting."

Finally, the Wednesday download includes new features for the Xbox Accessories app: a page that shows what version of the software the system runs on, as well as battery status for the controller.