Microsoft partnered with Netflix to bring movie rental to the Xbox 360 and Sony launched their own video rental and download for the PS3 yesterday. Both offerings are only available in the United States.

I just tested if I can access the video download section of the Playstation Store on the PS3 from Europe. I have accounts for each of the major Playstation Stores (US, Europe, Asia), but when logging in to the U.S. Playstation Store the Video section is disabled. The video tab on top is missing, but the teaser graphics for the PS3 and PSP movie download is displayed. When clicking on the graphics nothing happens.
So the Sony PS3 video service is not different from all other U.S. based services that block access from outside the U.S. via checking the IP address.

Now we have to wait and see if Sony and Microsoft manage to offer localized video rental and download services for countries in Europe and elsewhere.
Most movie and TV content is coming from the U.S. and I know that tons of European would be just very happy to get access to that content and not have to wait for local distribution and the language dubbing some countries insist on. Any Content should be accessible global, this is the age of the Internet after all.