Update: The official PlayStation Twitter account has revealed that the PS4's version 2.0 update will arrive October 28.
Original story follows…
Chief among the new features is Share Play, a feature so cool that for once Sony isn't exaggerating when it says it's the first of its kind.
The company describes Share Play as a "virtual couch" that lets players jump into one another's game's for co-op even if the other person doesn't own the game, or hand off the controller and let another player take over your game remotely.
'Xbox, turn on the PS4'
PS4's 2.0 update also gives it YouTube sharing features and a dedicated YouTube app.
There are more new social features, too, including a "Players You May Know" tile that will connect you with acquaintances. And you'll be able to sort your content more effectively and even listen to music while you play with a new USB Music Player app.
There are some new voice commands that will let players with the PlayStation Camera see a list of all commands, start and stop live broadcasts, and more.
And finally one very welcome new feature in the next PS4 update will allow PlayStation Plus subscribers to add new free games to their library without having to download them, so they'll have them available when they want but can save hard drive space.
Sony still hasn't revealed exactly when this fall the update will arrive, but we'll let you know when it does.
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Michael Rougeau is a former freelance news writer for TechRadar. Studying at Goldsmiths, University of London, and Northeastern University, Michael has bylines at Kotaku, 1UP, G4, Complex Magazine, Digital Trends, GamesRadar, GameSpot, IFC, Animal New York, @Gamer, Inside the Magic, Comic Book Resources, Zap2It, TabTimes, GameZone, Cheat Code Central, Gameshark, Gameranx, The Industry, Debonair Mag, Kombo, and others.
Micheal also spent time as the Games Editor for Playboy.com, and was the managing editor at GameSpot before becoming an Animal Care Manager for Wags and Walks.