Sony Pictures has released details of the pricing for Blu-Ray movies. The company claims that movies from its back catalogue in the Blu-ray format will sell for $17.95, around the same price point as DVDs when they first entered the market. New movie releases will sell for $23.45. The company also announced pricing for DVD-UMD bundles. Universal Media Disc (UMD) is a DVD format created by Sony for use on the PlayStation Portable. New movies available on this format include The Grudge, Resident Evil, Underworld, Crouching Tiger, Hidden Dragon and Terminator, priced at $28.95.