Importantly, the service will be backed by a host of studios from day one, including Sony Pictures, Fox, MGM, Lions Gate, Warner Brothers and Disney.
Users will be able to preview, rent or purchase TV and movie content, which will be transferable from PS3 to PSP for portable viewing. Content will also be downloadable directly to PSP from the PlayStation PC Store.
PlayStation Network director of operations Eric Lempel took to the stage to demo the service, which will slot into the existing PlayStation Store. Users will be able to access content via a new video tab, while each studio will hold their own content page.
Sony said it will take around an hour to download a two-hour movie, but that users will be able to watch content as it’s filtered down the tubes thanks to progressive downloading.
The company promised weekly content updates.