While there is more to this update than this, Sony seems to believe that it is important that they make sure that they are not seen as falling behind the Xbox One in this area. Recent updates have added these features to the Xbox One.
Still as part of another future system update, Sony expects to enhance the abilities of the Twitch and Ustream applications on the PS4 to allow for broadcast to be archived. It should be pointed out that Sony has confirmed that these broadcast will be at the 720p resolution.
Sony says that more information on these updates will be coming in the weeks ahead.