Nearly a year after first teasing it, Sony has unveiled its cloud-based TV service. Dubbed PlayStation Vue, the service will begin an invite only beta preview this month for select PS4 and PS3 owners, with a phased rollout starting in New York followed later by Chicago, Philadelphia, and Los Angeles. Shortly thereafter, it will also become available on iPad and other devices.

"Everyday TV is about to become extraordinary with our new cloud-based TV service, PlayStation Vue", said Andrew House, President and Group CEO of Sony Computer Entertainment and Group Executive in charge of the Network Entertainment Business. "PlayStation Vue reinvents the traditional viewing experience so your programming effortlessly finds you, enabling you to watch much more of what you want and search a lot less".

PlayStation Vue allows users to access live, on-demand, as well as catch-up TV content, and will initially offer around 75 channels per market, including channels owned by CBS, Fox, NBCUniversal, and more.

The line up, however, doesn't include channels from Disney, which owns ABC and ESPN, and Time Warner, which owns Turner and HBO. According to the New York Times, Sony is in "active discussions" with other content partners.

The service makes the past three days of popular programming available without the need to schedule recordings, and once you tag a show, you'll have access to episodes of that show for 28 days.

Although Sony didn't provide any details about pricing for PlayStation Vue, it did mention that the service will be offered on a month-to-month basis at a fair and competitive price with no hidden fees, equipment or installation charges, as well as penalty or customer service hassles for cancelation.