Sony's decision to bring video to its PlayStation store has been expected for a long time, and if a recent LA Times report is accurate, the entertainment and electronics giant finally has concrete plans to launch an online film and television streaming service through its PlayStation 3 console as early as this summer.

The new service would position the company to compete with the likes of Apple's iTunes and Microsoft's Xbox 360, both of which already offer movie and TV shows for download. Though it would seem Sony is coming a bit late to the party, it's safe to say that while its competitors have the advantage of an earlier launch none of them have picked up much traction yet, so it's not all said and done in this rapidly growing market.