In addition to storage, you’ll also have access to nearly half a million games and apps for the Android OS and a large collection of e-books and movies to rent. It’s possible that purchasing options for TV shows and movies will be available in the future. As with most of its products, we can also expect to see integration with Google+ in the near future.
Google is getting serious about digital content and this strategy could increase the competition with Apple. Bundling all the services under one platform not only makes it easier to market, but encourages discovery as well. It’s too early to tell how successful Google Play will be, but it’s definitely worth keeping an eye on it.
As of today, Google Play is live on the web, but it will take a few days for the Android Market app to update to the Google Play store app.