Sony PlayStation will be adding video streaming to its subscription gaming service, according to MediaPost.

In a YouTube video the company posted (Note that conversion button in the top left corner on Sony’s “press release” video!), PlayStation announced that its goal is to have its video gaming subscription service available on tablet and phones. Currently, subscribers can stream video games to multiple Sony devices and play without downloading or owning the games.

PlayStation Now (the name of the subscription service) is priced at $12/month. Sony did not announce pricing for the new service, but mentioned the ability to rent specific titles as well as “Netflix-style” payment to access multiple games.

In addition, the subscription service will include access to  live TV, on-demand and DVR content, although there’s no word yet on content partners.

The subscription service is set to launch in the US in the summer, and later in the UK and elsewhere. Sony says it has some 70 million Internet-connected devices in U.S. homes and about 25 million PlayStation devices.

Video gaming used to be a highly lucrative subscription industry, with many multiplayer games profiting from subscription access to Web-based gaming. However, in recent years, only World of Warcraft has maintained that model; other video games have chosen to pursue ownership models and Internet gaming through consoles, i.e., not website-based.

But by selling devices and then creating a subscription service that hooks into that device and others, Sony may be well poised to bring back subscription-based video gaming. My guess is that the video gaming subscription industry just got a big boost!