you will get an error, its because the project has not been updated since ubuntu 13.10 raring, and the there is no package for utopic to fix that, do the following :
sudo add-apt-repository ppa:happy-neko/ps3mediaserver
sudo sed -i s/utopic/raring/ /etc/apt/sources.list.d/happy-neko-ps3mediaserver-trusty.list
sudo apt-get update
sudo apt-get install ps3mediaserver
The second command simply replaces the word utopic with the latest available package in ubuntu's repository. if you are reading this article at the time that a newer version of ubuntu is released (after 14.10) simply change the utopic (marked in red) with the newer ubuntu's name
the rest of the things are same with the ubuntu's help page.