Participating European studios include ContentFilm International, E1 Entertainment UK and Optimum Releasing (UK); Constantin Film, Kinowelt and Universum Film (Germany); MK2, EuropaCorp, PathÃ©, SND and Wild Side Video (France); and VÃ©rtice Cine (Spain).
Content is available to rent or own (in some cases only to rent in Germany), and in high definition (rental only) and standard definition.
Rentals must be used within 14 days, and within 48 hours of starting to watch the movie.
The service uses progressive downloading so it is not necessary to wait for the transfer to complete before starting to watch the movie, and certain games and other content on the PS3 can be used during downloading.
Movies can be transferred from the PS3 to a PSP for mobile viewing.
Titles offered around the launch of the service include Angels and Demons, Star Trek, Terminator Salvation, Transformers 2: Revenge of the Fallen, Valkyrie, and X-Men Origins: Wolverine.
Launch specials include a free copy of THe Da Vinci Code for existing PlayStation Network members who buy Angels and Demons, and a free copy of Transformers for new registrants using a new PS3.
"The launch of the PlayStation Network video delivery service extends our entertainment offering and provides consumers with another way to access their favourite movies, whether at home or on the go," said Andrew House, president and CEO, Sony Computer Entertainment Europe.
"With the choice of content constantly expanding, including full games, bite-size downloadable 'minis' games, demos and now movies too, the PlayStation Network is the gateway to a world of entertainment," he added.
The service can be found in the Video Store section of the PlayStation Store.