Rumor: Sony to announce music/video subscription service, will work with PSP/PS3

The Financial Times is reporting that "sources in the media industry" believe Sony will announce a new subscription-based music and video download service, launching initially on PlayStation 3 and PSP before branching out to other Sony devices. An announcement of such a service could be made as early as later today -- the report expects it to be revealed in Berlin at IFA 2010 during Sony's press conference.

Don't expect to see the service by the holidays, though -- FT's sources say it won't be out until sometime next year "as deals are confirmed with all the major labels and studios." We'll be following IFA throughout the day for any announcements, and our friends at Engadget are on the ground in Germany, so keep an eye out for more in the coming hours.

This article was originally published on Joystiq.