One of the hottest things in the technology world right now is video on-demand. And if Sony wants to reinforce their claim that the PS3 is a "true multimedia machine," they probably want to include such a feature, yes? It appears true, as Sony Computer Entertainment Europe president David Reeves has confirmed that video on-demand will be available on the PS3 before the year is over.
In speaking at a PSN event in London, Reeves said that Sony will be offering the service soon, and he "can't give you a time but it is not in the distant future; it will be within the calendar year." Therefore, TV shows, movies, and music will all be available for download, directly to the PS3 (and PSP), but we don't yet know what – exactly – will be available upon launch. It's definitely a service that needs time to grow and expand with an impressive inventory, kind of like the PlayStation Store, but we do like the video on-demand idea, nevertheless.
As one final note, Reeves wanted to clarify that the service wouldn't be available in all PAL territories, but it would be available in "major" territories. We'll let you know when Sony issues more details.