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International CES: Sony Gaikai system now the PlayStation Now for PS3, PS4, Vita

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As part of a string of newsworthy announcements, Sony unveiled its new cloud-streaming service –– for the PS3, PS4 and PS Vita –– dubbed PlayStation Now, according to a report today from GameSpot.

Andrew House, Sony Computer Entertainment CEO and president, made the PlayStation Now reveal today, which encompasses the Gaikai streaming service that allows for the streaming of PlayStation, PS2, and PS3 games to the PS4, PS Vita and mobile devices.

Sony acquired Gaikai in July for roughly $380 million, according to a previous GameSpot report.

CES attendees will be able to demo the service on the trade show floor, playing The Last of Us and Beyond: Two Souls.

No price specifics have been revealed yet, though Sony did announce that PlayStation Now service users will be able to rent games both individually and on a subscription package.

The announcement could spell bad news for other gaming retailers like GameFly and GameStop, the latter of which had its stock value drop after the Sony announcement today.

You can read more of that Examiner report by clicking here.