The anticipated PS4 1.7 firmware update is already out, and fans can expect a multitude of new features, both demanded and possibly hard-hitting ones that would build the PS4 further as a social console.

"At PlayStation, we love hearing the great feedback we get from our passionate community of gamers. That's why I'm excited to announce that our highly-anticipated system software update for PlayStation 4 (v1.70) will be released tomorrow, with a huge number of your demanded features, and expanding upon what we believe is the most socially connected console experience," said John Knoller, VP of platforms marketing at SCEA over at PlayStation Blog.

One of the bigger features that will be added is the SHAREfactory, which is a free app that will appear on the homescreen of the PS4 system. This will allow you to customize your gameplay videos with a number of features like special effects, video commentary, picture-on-picture capabilities, and custom soundtracks.

PS4 1.7 firmware update addition: SHAREfactory (via YouTube/PlayStation)

As the name suggests, it also implies the social sharing factor via Facebook. This means that those who love to share their gameplay videos can now make them even more customized and fun to watch even with beginner tools.

Automatic pre-download is also included in the update, which will let you start downloading games from the PS Store. This means less time waiting, as the pre-download can start days before the release, so that it will be ready to play once the launch day comes.

A highly requested feature is the option to disable HDCP for games so you can get longer gameplay sessions via HDMI and export them somewhere else. This export option can also be via USB, so that you only need to click on the DualShock 4 SHARE button, save it on the USB drive and share them via different platforms.

There will also be a number of new options for different features, including new SHARE options, DualShock 4 options, trophies sort options, Music Unlimited SHARE options and Friends options.

For those with the PS Camera, there are now more commands, so you can launch the apps just by using your voice. There will also be a PlayStation Store Payment Support, introducing alternative payment methods for when you purchase games and apps for the PS4 via the PS Store, this time adding Paypal as an option.

The PS App 1.7 update now out on the iOS and Android

Aside from the firmware update on the PS4, the PlayStation App has also been updated on iTunes.

Some of the new things for the 1.70.13 version include support for notification alerts, thumbnails now used for displays in screenshots and video clips, support for resolutions on the iPad 2 and iPad Mini, and profile picture capability for any photo that you take on our iDevice.

PSN Friend requests can now be sent using the email or text messaging, and there are also a bunch of stability issues that have been improved for the app.

The same update is now also available on the Google Play Store, so Android users can now download the update.

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