Details from Tokyo are emerging today which outline some interesting tidbits of
information surrounding the PlayStation brand. In a group business
briefing, Sony Computer Entertainment president Kaz Hirai introduced
several new non-game projects currently under development. Via IGN we
learned that a video-on-demand service for PlayStation 3 and PSP is
currently in progress, which will add movies and television programs to
the PlayStation Network. We expect the service to debut in America this
summer, with Europe and Japan services following soon after.

Several sample images were showcased, and highlighted an interface
broken down into new arrivals, movie, television, anime, rentals and
purchases – among others. In addition to the announcement, Sony
unveiled their new Life initiative, which will allow users to check
news, weather and other updates via a globe interface on the
PlayStation 3. It is expected that more details will come to light
during E3, and further applications will be explored.

gameinformer.com

it's just too bad the ps3 can't sell...