Sony is planning to launch PlayStation Vue, a TV service for PlayStation 3 and PlayStation 4 consoles providing on demand programmes and live content.

The company will roll out the service to selected customers in New York, Chicago, and Los Angeles, and is expected to feature content from CBS, Fox, NBC Universal, Discovery Communications and 75 other channels. The service is expected to allow users to save their programmes for up to 28 days.

Sony said that users will be able to view the last three days of content through a monthly subscription which, according to the company, will be available for "fair and competitive price".

Sony Computer Entertainment president Andrew House said: "Everyday TV is about to become extraordinary with our new cloud-based TV service, PlayStation Vue.

"PlayStation Vue reinvents the traditional viewing experience so your programming effortlessly finds you, enabling you to watch much more of what you want and search a lot less.

"PlayStation Vue brings the best of live TV and a robust catalogue of the latest content, always keeping you connected to what’s popular, new and trending."

PlayStation Vue is expected to rival Netflix, Hulu and others streaming services.