VidZone will be a completely free, though ad-supported, way of watching music videos on demand. It will allow you to create playlists of streaming videos either from your PS3 itself or from your PSP via remote play. The service will feature "thousands of music videos and live concert videos, as well as behind the scenes, interviews and making of footage."
There's no word on how often the service will be updated, but we would hope that more content is added on a fairly regular basis. VidZone is Europe and Australia exclusive, with seemingly no plans to bring it to the US.