The web’s currently rife with speculation that Sony might launch a PlayStation 3 movie downloads service this summer.

According to a story by the LA Times, unnamed film studio executives have alleged that Sony’s currently negotiating licensing deal to get the rights to distribute movies over the net to the PS3.

Peter Dille, the Sony exec running the PlayStation Network, hasn’t helped dampen the rumour. He recently wrote on the PlayStation Blog that “it’s already been confirmed that we’ll be offering a video service for PS3” and he added that further information will be coming “very soon”.

The movie downloads service looks set to sit within the PlayStation Network, which includes the recently redesigned PlayStation Store. Sony has already laid the foundations for movie downloads too with a recent firmware update that made it possible for the PS3’s web browser to stream video files directly from a web page.

The electronics giant needs to get moving though if it’s to secure itself a slice of the movie downloads market, because Microsoft already enables gamers to watch TV and films through Xbox Live.

Register Hardware recently reported that Blockbuster is looking at ways to transform traditional film rentals. Its plans are rumoured to include the development of an Apple TV rival.