The top eight will battle it out for the World Cup, while the bottom eight will be compete for a plate.
Netball World Cup chief executive Marne Fechner said the organisers wanted to come up with a format that would create a product fitting for netball's pinnacle event.
"The reality for our sport is netball is now an entertainment spectacle so we had to find that nice mix of it being a world event, but at the end of the day being a great product that people would want to come and watch and broadcasters would want to say 'we want that event'," said Fechner.
"We wanted to make sure that we had blockbuster games from day one through to day 10."
Silver Ferns vice captain Laura Langman, who was at today's launch in Sydney, said the new format will create extra challenges for the teams competing making it truly the pinnacle event in the sport.
"[The new format] was actually news to me, so it will be interesting to see what our strategy will be for it and how we prepare. I'm glad to hear we get an extra day off as well though - we're going to need it. It'll be a lot of netball," she said.
"I think it will be great, there will be a lot of close, competitive matches which is what everyone wants to see."
The Netball World Cup will be held at Sydney Olympic Park from August 7-16, 2015.