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With E3 proper beginning in Los Angeles tomorrow, Sony announced the release of their all new Playstation Media Player. The player will be available for download tonight on the PlayStation 4, and allow playback of a wide variety of music and movie formats.
Finally, users will be able to play their own music in the background while playing games.
From the PlayStation Blog:
MKV
Visual: H.264/MPEG-4 AVC High Profile Level4.2
Audio: MP3, AAC LC, AC-3(Dolby Digital)
AVI
Visual: MPEG4 ASP, H.264/MPEG-4 AVC High Profile Level4.2
Audio: MP3, AAC LC, AC-3(Dolby Digital)
MP4
Visual: H.264/MPEG-4 AVC High Profile Level4.2
Audio: AAC LC, AC-3(Dolby Digital)
MPEG-2 TS
Visual: H.264/MPEG-4 AVC High Profile Level4.2, MPEG2 Visual
Audio: MP2(MPEG2 Audio Layer 2), AAC LC, AC-3(Dolby Digital)
AVCHD: (.m2ts, .mts)
Photo
JPEG (based on DCF 2.0/Exif 2.21)
BMP
PNG
Music
MP3
AAC (M4A)