Unveiling the new Home, Sony revealed that video rentals and purchases are finally coming to the PS3. Video will be fully integrated into the PlayStation Store, which will have a new video section. And you can transfer them to your PSP via USB, and have them on multiple devices at once! Standard and high def, with rentals running $3-$6 and $10-$15 for purchases. It takes about an hour to download a two-hour movie. Most of the major studios are on board (Kotaku has a partial list in their liveblog), and it goes live tonight!
Apparently Sony and Apple both missed the memo that "rentals" are for a fight that ended years ago. It is a step in the right direction, but until it becomes an "all you can eat per month" deal, it seems like a concept that can only go as far as the Apple TV has gone. Microsoft certainly has the right idea teaming up with NetFlix to do streaming of movies, even if they need to address the quality and lack of new titles issue.