David Bloom is a Deadline contributor.

The long-anticipated successor to the PlayStation 3 videogame console will come with vastly improved online video streaming capability for Netflix and other entertainment companies. PlayStation 3 is already Netflix’s biggest delivery platform, Sony executive Andrew House noted, but the PS4 has been designed and built to handle those tasks better. The console will also have built-in social-media sharing, video creation and cloud computing, all built on a powerful backbone that should keep costs down and improve user and content developer experience, or so Sony says. The company also announced new partnerships with Facebook and video-streaming company Ustream, and promised new or expanded partnerships with entertainment companies to deliver movies, TV shows and other, more-traditional content. READ MORE »