Yes, that’s right. Sony has officially announced their new movie download service for the Playstation 3. Content will come from many, including the ever famous Fox, MGM, Lionsgate, Warner, Disney and Paramount. From the beginning it should have around 1200 TV shows and approximately 300 movies. Video will be in both standard def (SD) and high def (HD).

There are two options of service. There is Video On Demand (VOD) where you are effectively buying a license to watch something once, AKA a download rental where your download self-destructs after you watch it. That will run about $2 per TV show and $3 for a movie. Or something like that.

Then there’s the Electronic Sell-Through (EST) service, which you basically buy your download to keep. Well, keep locked to your specific PS3 anyway. Get a new one or possibly even need repairs and oops, no more access to your own paid-for EST movies. And of course keeping your EST downloads costs you a lot more than the one-off VOD downloads. But hey, you get to keep it and watch it as many times as you want. And you can even transfer it to your Playstation Portable (PSP) a total of one time. Yay?

So it may not be the most amazing deal ever. Still, anything is better than nothing, and this sure ain’t nothing! Sony is finally bringing the PS3 into the 21st Century. I bet that sure pisses off Microsoft and their XBox 360.