The LA Times reports that Sony is in negotiations with Studios over video content licensing.

The anonymous tipsters told the paper that Sony might be launching a Movie on Demand service on the PS3 as early as this Summer.
PS3 owners would be able to download TV shows and movies directly via the Playstation Network.

Apparently Sony would publish details about the PS3 Video Service today on the Playstation Blog.
More details on the LA Times.

I am not sure if this video service has something to do with the delay of Playstation Home that Sony announced today. It could be related. Sony might have shuffled priorities and is now first focusing on releasing a video content service and integrate that later in the 3D world of Playstation Home.