With a number of recent criticisms weighing down on Sony's Playstation about losing exclusives and firmware troubles, it's good to hear they're still somewhat trying to get their feet back on the ground as they announced planned price cuts (though its more of a 40GB upgrade from their current model) and the ability to download videos from a large selection of nearly 300 full length movies and more than 1,200 TV episodes, both available in standard-definition (SD) and high-definition (HD).
"PLAYSTATION Network's video delivery service capitalizes on the superior value and entertainment potential of PS3 and PSP – not only for gaming enthusiasts, but also for the millions of consumers looking to buy the best, most versatile solution for their home entertainment system," said Jack Tretton, President and CEO, SCEA. "The collaboration of Sony's film, TV and entertainment business units, coupled with our hardware and content offerings, provide consumers with entertainment experiences unlike any on the market."
Rentals will allow customers to have 14 days to watch the content. Once content playback is started, you have 24 hours to enjoy the rental. Pricing for rental movies at launch ranges from $2.99 to $5.99, and pricing for purchased movies ranges from $9.99 to $14.99.
[via Playstation Blog]