Apple has updated the Apple TV software to version 5.1, bringing along with it support for the new Shared Photo Streams introduced in iOS 6, as well as iTunes Account Sharing and other goodies, reports MacRumors.

The Share Photo Streams feature allows you to view the streams that you create using your iOS devices on your Apple TV. These are collections of images that you can update and allow invitees to view and comment on. Public photo streams can also be viewed via Apple’s iCloud site and now Apple TVs.

Another major inclusion, and a very interesting one at that, is the ability to send audio content from the Apple TV out to devices that support AirPlay, like speakers, AirPort Express devices and even other Apple TVs.

You can now also protect AirPlay access with an on-screen code, rather than anyone on your WiFi network being able to use the feature.

If you have multiple iTunes Accounts among family members, and you each have your own libraries of music or movies that you like to play on the Apple TV, then you’re in luck. The iOS 5.1 update brings the ability to swap between accounts right on the device quickly.

Here is more of the new stuff:

  • Trailers - Search movie trailers. In the United States, see show times for local theaters.
  • Screen savers - New Cascade, Shrinking Tiles, and Sliding Panels screen savers.
  • Main menu - Reorder icons on the second page by holding down the select button on the remote.
  • Subtitles – SDH support for the deaf and hard-of-hearing as well as improvements to viewing and selecting subtitles.
  • Network configuration - Support for setting up advanced network options using configuration profiles. See http://support.apple.com/kb/HT5437 for more information.
  • Stability and performance - Includes general performance and stability improvements.
You can grab the update now via the Settings>General>Update Software menu on your Apple TV.