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Sony will offer a premium subscription to the PlayStation Network, one that doesn't replace the current free service but does offer "an enhanced experience," with additional content, early demo access and more. It will cost $49.99 a year.

Jack Tretton announced the plans for the premium service at Sony's E3 news conference. Subscribers may also choose a $17.99-per-3 months pricing plan. PlayStation Plus subscribers also would get "hundreds of dollars" in free content and discounts on certain items within the PlayStation Store.

The first three months of the service will be available for free for a limited time to subscribers, Tretton said.

Standard PSN features now delivered for free will continue to be free, Tretton said. This would include standard multiplayer and messaging.