Sony has built the Cadillac plan of Internet TV: It's big, it's shiny and it's expensive.

Sony launched its new PlayStation Vue streaming TV service on Wednesday featuring a 55-channel bundle that includes shows from three major broadcast networks — although notably lacks ESPN.

Vue comes along just as the Internet TV market has begun to take off. Dish's Sling TV, one of the first "over the top" (OTT) bundles of channels to hit the market, reportedly logged 100,000 sign-ups in its first month. Apple is also reportedly working on an Internet TV service.

Rich Greenfield, media and tech analyst for BTIG Research, said Vue represented the most recent of many steps toward breaking the dominance of cable providers.

"The bundling is coming unhinged right in front of our eyes," he said in an email to Mashable.

The basic plan comes at a premium price of $49.99 per month, or $600 per year — well above the $20 per month for Sling TV, the smaller bundle of streaming cable channels from rival Dish.

For that extra $30 per month, Sony has put together an impressive combination of technology and content. The PlayStation-based service provides viewers with a familiar cable mix that funnels live TV, on-demand programming and a cloud DVR into a bright, splashy screen. The channels include stalwarts like CNN and CNBC along with the Food Network and Fox. (The full list of channels is available below.)

Dan Myers, the head of product for Vue, said the goal was to offer the familiarity and immediacy of TV while creating a better experience for immediately surfacing what users want to watch.

"We definitely wanted this to be an experience where people were like, 'Yeah, this is like live TV but way better," Myers said.

The offering from Sony is as close as any online offering comes to replicating a modern TV experience, right down to the price tag.

At $49.99, Vue still comes in below the average expanded basic cable bill, which is around $64, according to the FCC.

The service initially launches in New York City, Chicago and Philadelphia, areas that Myers said have a high concentration of PlayStation owners. Sony plans to roll it out to other markets based on PlayStation saturation. The major reason for the slow rollout has to do with the broadcast channels. Sony had to reach agreements with the local broadcast channels in each market.

The major programming gap centers around Disney and its two major TV properties that are missing from Vue: ABC and ESPN.

When asked if negotiations with Disney were ongoing, Myers said that Sony was still working with a variety of possible partners to strike deals. He gave a similar response to a question about HBO's online-only service HBO Now. AMC, he noted, just agreed to terms with Sony and will be added to Vue in April.

A brief look at the interface is available in this video.

While missing ESPN could make some sports fanatics balk at Vue, Sony's agreements with local broadcasters means access to local NFL games on CBS and Fox as well as the national Sunday night games on NBC. A Vue subscriber would have access to all of the upcoming March Madness basketball games, which are airing on CBS, TBS and truTV. Vue also comes with authentication for more than 40 apps, such as NBC, which streams all Premier League soccer matches.

There's also add-ons for local sports. The base package includes Fox Sports 1, while the bigger packages offer local sports networks. The "Core" bundle at $59.99 adds Yes Network in New York or Comcast SportsNet in Chicago and Philadelphia. The "Elite" bundle at $69.99 adds three regional Fox college sports channels, as well as a variety of music channels.

The service is currently only available on PlayStation, but will also soon roll out an iPad app. Myers noted that other connected TV devices are also being explored. Right now, customers have to sign up on a PlayStation through a user account.

Vue can be streamed to three different devices in the same home, but is limited based on the account associated with the subscription. For instance, a customer could not stream TV to two different PlayStation 4s from the same account. However, a customer could stream to a PlayStation 4 and a PlayStation 3, since the same account can be logged into both.

Channels available on "Access," the basic $49.99 per month Vue package: AMC, Animal Planet, BET, Bravo, Cartoon Network, CBS, CMT, CNBC, CNN, Comedy Central, Destination America, Discovery Channel, Discovery Family, DIY, E!, Esquire, Food Network, Fox Business, Fox News Networks, FOX Sports 1, FOX Sports 2, FX, FXX, HgTV, HLN, Investigation Discovery, MSNBC, MTV, MTV2, Nat Geo, NBC Sports Network, Nick Jr., Nickeloden, Nicktoons, OWN, Oxygen, Science, Spike, Syfy, TBS, TLC, TNT, TruTV, Travel Channel, TV Land, USA Network, VH1.

Additional channels available on "Core," the $59.99 package, which includes all above channels: BTN, Golf Channel, TCM, YES Network (New York only), Comcast Sports Net Philadelphia (only available in Philadelphia), Comcast Sports Net Chicago (only available in Chicago).

Additional channels available on "Elite," the $69.99 package, which includes all above channels: American Heroes, BET Gospel, Boomerang, Centric, Chiller, Cloo, CMT Pure Country, CNBC World, Cooking Channel, Discovery Fit & Health, FOX College Sports Atlantic, FOX College Sports Central, FOX College Sports Pacific, FXM, LOGO, MTV Hits, MTV James, mtvU, Nat Geo Wild, Palladia, Sprout, TeenNIck, Universal, Velocity, VH1 Classic, VH1 Soul.

Will you be signing up for PlayStation Vue? Let us know in the comments.