Sony, being the magnificent bastards that they are, have revealed some of the new features coming to the PlayStation 4 in their 1.70 firmware update, “features that were incorporated as a result of your great feedback”. That’s right, you! Give yourself a pat on the back.

So, what’s coming you ask? SHAREfactory, that’s what. An awesome new video editing tool that will allow you to splice, dice, and star swipe all your favourite gaming moments into one epic piece of cinematography that your friends will deem Oscar worthy. Some of the new features are:

• Combine your captured video clips for editing.
• Personalize them with special effects using filters, transitions, and themes.
• Add text, stickers, and a set of included audio tracks, as well as video commentary with picture-in-picture capability with PlayStation Camera.
• It also allows you to import your original music to add to the custom soundtrack for your video.

Check out the video below to see SHAREfactory in action.

Sharing via social media is still a core feature, but to give the user even more control Sony will be including the option to export video to external devices, as well as an option to turn off HDCP recording and allowing for recording directly via HDMI for longer video time.

The other major update is pre-downloading for your pre-ordered games. Basically if you’ve purchased a game via the PSN the game data can be downloaded before the game’s release date so that when launch day arrives you can begin playing without delay!

There may be one or two other tweaks and bug fixes but that’s all we know for now. No release date yet, but I don’t think we’ll have to wait too long.