Playstation 3 users can now start downloading video content through the gaming console. According to Home Media Magazine, Sony unveiled its new product in Los Angeles on Tuesday and PS3 users can start downloading content through their console.

Sony also announced some changes to its Playstation 3 models. Starting in September, the 80GB PS3 will drop to $400, $100 less than currently listed. The current 40GB PS3 which is priced at $400 will be discontinued then as well.

There are more than 300 movies and 1,200 television episodes that are currently available to buy or rent through the Sony Playstation Store. Standard definition films will cost $2.99 to rent while high-definition films will be priced at $5.99 apiece. Films will also be available for purchase as well, ranging from $9.99 to $14.99, but users can only buy films in standard format.

A two-hour film will take about an hour to download and the user can start watching the film after one minute of downloading. For rentals, users have up to 14 days to watch the film and, once started, users have 24 hours to watch the film.