Sony has officially announced many of the new features set to be included in its latest PS4 software update. Among them are new community features, larger cloud storage, YouTube live streaming and more.

Codenamed "Kenshin," the new update will include the much-requested increase in cloud storage for PlayStation Plus members from the current 1 GB to a much larger 10 GB allotment. The company has also added a much-rumored new feature — live YouTube streaming ability. Gameplay can be livestreamed on YouTube as well as on the new YouTube Gaming app and website.

A new events hub will be added to allow users to view upcoming official broadcasts as well as activities occurring in their favorite games. "For instance, you may see an update for a double XP weekend, a special enemy appearing at a scheduled time, or seasonal events like in-game towns being decorated for the winter," according to Sony's blog.

The Friends app will now feature a new Favorite Groups addition, allowing quicker access to groups with which the user currently plays, therefore making the game-starting process faster and easier. Users can now also create communities around common interests, including games and genres.

"Communities include a message board with general discussion, screen shots shared by players and the ability to join parties or games. If you want to tackle a big multiplayer raid, but don't have enough friends, this could be a great way to connect with other likeminded players," promises Sony.

The new software will also allow uploading and sharing of video clips up to 10 seconds long to Twitter, along with a feature allowing gamers to trim longer clips to that length. If you want to watch a friend play a game, you can now send them a "request to watch" notification. Users will also be able to send messages to friends via stickers, as an alternative to typing them out.

Sony has also created an option to "view popular broadcasts, video clips and screen shots on the Live From PlayStation area," and has also added the PNG format for screen shots. The company promises that these are just some, but not all, of the new features of the software update, with additional ones to be announced as the launch approaches.