Nintendo Network Confirmed

Nintendo has confirmed its online service called Nintendo Network during an investor program. Satoru Iwata confirmed the online infrastructure is already in place for the service.

Here are the plans for the service:

Personal Accounts for Wii U. Allowing now personalized accounts for its next home console. They will allow multiple accounts per console. "We will also be able to construct and offer the [personal account system] by combining a variety of different services and content," Iwata said. So, no more system based online profiles.

Digitally Distributed Packaged Software. They are exploring the idea to release full retail titles on both the 3DS and Wii U.

Paid Downloadable Content. We already knew this. The first game to offer paid DLC it will be Square's Theatrhythm Final Fantasy.

Expect to see more at this years E3 in June.