E3: PlayStation TV, Cloud Gaming + Grand Theft Auto V Announced at E3 taking place in LA, Sony is looking to cloud computing to give gamers the next thrill with PlayStation Now, which streams games over the internet. 

Now gives gamers access to a massive library of PS3 games and streaming will kick off later this year, starting on PS4 and thereafter PS3 and Vita, and the new PlayStation TV, also announced at E3. 
But you don’t actually need a console. It will also be available on newer Sony Bravia TV’s by using a PS3’s DualShock 3 or Dualshock 4 controller’s. 

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Sony says there will be more connected devices launching in the future, allowing users to stream PlayStation games on an army of other Internet-connected devices, like smartphone and tablets.

Andrew House, President of Sony Computer Entertainment, says ‘PS Now will allow users to engage in the world of PlayStation, whether they’re existing fans or have never owned a PlayStation platform.’
PlayStation Now PS4 open beta begins July 31st in US and Canada. 
No word about Aussie availability yet but Sony is inviting gamers to register to receive notification when the service is available for your PlayStation Now-ready device in your area.
Players with beta Now will have access to 100 games including: Dead Space 3, God of War: Ascension, Metal Gear Solid: Ground Zeroes, Ratchet and Clank: Into the Nexus and Ultra Street Fighter 4.
Game rental on the cloud-based Now will cost between US$2.99-$19.99 per title and Sony will also be offering subscription services. 
Sony’s purchase of cloud gaming experts Gaikai in 2012, whose business is developing technology to stream games at high quality with low latency, seems to have bore fruit.

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Sony also announced PlayStation TV – a palm sized console where you can stream games from the web for an RRP of US$99.99, out later this year.

It works as a second console for bedroom or the primary gaming system in your living room, via Remote Play.
Other new titles announced for PS4 at E3 include: Uncharted 4: A Thief’s End, The Order: 1886, Bloodbourne, LittleBigPlanet 3, Entwined, Far Cry 4 and Grand Theft Auto V.