Report: Sony debuting an iTunes-like media service for PS3 and PSP later today

Connect is dead. Long live whatever this thing is gonna be called!

The Financial Times (registration required) is reporting that Sony's set to hop back into the ring with Apple's 800 lb. gorilla iTunes service for a second round after its Connect service came back in a body bag. Apparently, the new service will ask for some form of subscription fee in exchange for both music and videos, and is set to debut during the IFA technology show in Berlin, which begins later today.

According to the report, the service is scheduled to launch on PS3 and PSP sometime next year, with plans to expand onto other devices from Sony's magical tech toy factory like Bravia TVs, Ericsson phones, and Vaio computers.

So basically, it's the good old PlayStation Trojan Horse Gambit  version 3.0. First there was DVD on PS2, then Blu-Ray on PS3, and now a media service. If it ain't broke, don't fix it, and there are certainly worse ways to force your way into a tough market.