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(Pocket-lint) - Sky has announced the launch of its pay-per-view IPTV streaming service, Now TV, as it looks to claw back lost time against Netflix and LoveFilm.

The new service will see customers able to buy new movies for 99p to £3.49 a go, or pay a monthly subscription - called the Sky Movies Pass - for £15 per month after 30 days free. 

Available from Tuesday, the new service will be the home of Sky's pay-as-you-go internet TV platform. It  will offer the wealth of Sky original and bought content to non-Sky subscribers via PC, Mac, tablet, mobile phones, connected TV and YouView. The service will also be coming to the Xbox 360, PS3, and Roku. 

Support for new devices will roll out gradually, starting this week with PC, Mac and some Android phones, iPad and iPhone within the next month, and Xbox 360 and YouView later in the summer. 

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Now TV has promised five new movies every Friday, 12 months before they are available on other subscription services, and a pledge to offer three-quarters of the top 100 movies available in the UK.

Initially, the service is restricted to Sky Movies, but will soon include sports and entertainment shows from its channel line-up, including Sky Atlantic, Sky Sports (before the end of the year), Living and others without the need for a contract.

Unlike the current Sky satellite platform (or Sky Go), Now TV will be available to anybody with a compatible device and with no minimum term or spend contract. There will be a variety of payment options, including pay-as-you-go for content rental and pay-monthly schemes for those who want unlimited access to Sky Movies, for example.

The service will be video streaming over internet only, although there won't be HD support at launch.

Now TV will only be available to UK residents and will work only in the UK - no taking it on holiday abroad. You can find out more at www.nowtv.com.

Now read what we think of the new service in our Hands-on: Now TV review

Writing by Stuart Miles. Originally published on 16 April 2013.