Sony has recently announced that they are turning the dream of watching TV on a gaming console into a reality with the introduction of their latest cloud-based television service.

Aspiring to change the way in which viewers watch their favorite shows, Sony has created the PlayStation Vue service which will be available early 2015.

Sony announced on Thursday (Nov. 13, 2014) that the PlayStation Vue beta version will feature about 75 channels, counting those owned by CBS, Fox and NBC.

Sony, which talked about the new television service at the Consumer Electronics Show last January, said that Vue will not come with any monthly contracts, installation charges, or additional hardware attachments. However, the company has yet to reveal the cost of the service.

The images of PlayStation Vue offered by Sony show it as similar to the interface of Netflix. The device will allow users to watch any program that was aired on television over the past three days. The best thing is that the users will not be required to record any program in advance. However, the shows saved by the users will be available for up to 28 days.

Meanwhile, Sony Computer Entertainment chief executive, Andrew House, recently told Bloomberg BusinessWeek that some channels like the ESPN, ABC, Disney, AMC and the History Channel will not be available on the PlayStation Vue right now. However, though the company is in the process of securing the rights to more broadcasts.

Andrew House said, "This is an opportunity, in my view, to fulfill a longer goal of transforming what was in the past a dedicated game device into a proper entertainment hub," adding, "There is nothing in entertainment as broad as the mass-market live-TV space."

Potential PlayStation Vue customers in New York City will be able to test the PlayStation Vue experience all through November. As many as 35 million Internet-enabled PlayStation consoles in the U.S. can avail the service in early 2014. Eventually, Sony hopes to extend the PlayStation Vue service to non-Sony platforms such as the iPad as well as other mobile devices.