Other features include DLNA support for the playback of movies, music and images on suitably equipped TVs and devices such as the WD TV Live Plus HD, and compatibility with iTunes and Time Machine.
The package also includes WD's Smartware backup software for Windows, and WD Photos to allow the display of photos on the iPhone, iPad or iPod touch.
"Network attached storage presents tremendous opportunity for families wishing to centralise all of their digital content and enjoy it on computers, TVs and smartphones around their home and beyond," said Dale Pistilli, vice president of marketing for WD's branded products group.
"Our consumer research tells us that consumers need a simple way to set up a one-stop shop for their digital media. WD's My Book Live home network drive makes it easy for anyone to enjoy the benefits of network storage and delivers blazing read speeds to boot."
The MyBook Live is available in two models: 1TB for $209.99, and 2TB for $289.99.