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Do we have any PS4 owners in the house that like to stream, but doesn't like the built-in streaming app? Have a youtube channel that you would like to post PS4 footage to? Do you make game reviews and would like to easily record in-game footage? Well, it's about to get a whole lot easier through HDMI. The latest upcoming patch for the PS4 will allow you to record footage from PS4's library of games without having to find a workaround for the HDCP protection that gave PS3 users such a headache.
Among the changes rolling out to the next patch, users will be able to stream at 720p with Twitch and Ustream, and will also have the capability to archive their Twitch streams. Sony has also said they will be releasing "A rich video editor with a simple tool to personalize your video clips", and users will also be able to save screenshots and videos directly to a USB drive using PS4's Share feature. There is also "a lot more coming in this update", but nothing further has been specified.
Looks like things are shaping up for the Playstation 4. I personally think that the current OS for the PS4 is extremely barebones at the moment, and it makes me happy to see further functionality added to the console.
Source: Playstation Blog