A video was posted on the Playstation 3 YouTube channel on the 21st September. It’s entitled ‘LOVEFiLM is coming to PlayStation 3′. It shows an advertisement that includes the Lovefilm app running on a PS3. It’s only got 123 views so seems to have gone pretty unnoticed but there you go folks. You can stream movies and manage your rental lists and account. The service will be free to those of us with LoveFilm accounts – take a look below for the video and some screenshots.

From Autumn, film fans on LoveFilm subscription packages can start streaming thousands of titles through their TV to their PS3.

Open up a world of interactivity and scroll through popular titles and search through categories including ‘Pick of the Week’, ‘Most watched’ and ‘Highest Rated’.

Free trials and incentives will be made available to those who are not already a LOVEFiLM subscriber so no-one misses out!

With thousand of popular titles available on LOVEFiLM, there will never be a shortage of great films to watch.

http://everythingplaystation.com/news/lovefilm-ps3-app-announced

UPDATE NOW CONFIRMED:

what's the difference between this and netflix and why should people care?

I've heard about this, if i still have a job soon i will definitly be signing up to it. this is an excellent move by Sony!

Because Netflix is only available in the US. LoveFilm is available in parts of Europe.

I'm from America,that's why I never heard of this. Sorry about that,I take back my previous post. lol

This is fake.

how is it fake, Sony pulled the video from their YouTube channel

I dunno, something doesn't look quite right about this. Theirs being no announcement, they removed the video. In the posted screen shot, the DS controller (on the background image) looks weird. Why would they have a rival video service to their own video store?

I could be completely wrong and it could be the real deal, time will tell.

I'm from America, too.  America.  Fuck yeah.

Could be great if they change there current online service, if this is just a mirror of what you can already stream from there website via PC, its pretty bad. 

To watch new films, you have to subscribe to one of the unlimited packages, then you have to pay £2.99 on top of that for each film. 

Yes there are some free films, but there usually old ones and contain adverts. 

Fingers crossed this is a whole revamp off lovefilms online service as well as getting onto PS3