Hollywood
AFM Pension Fund sues Sony, Universal, Warner over music streaming dues
MUMBAI: The American Federation of Musicians and Employers’ Pension Fund (AFM Pension Fund) has sued Atlantic Recording Corporation, Hollywood Records, Sony Music Entertainment, Universal Music Group Recordings, Inc, and Warner Brothers Records, Inc for failing to make pension fund contributions.
The suit states that the five recording companies failed to make pension fund payments from foreign audio stream revenue and foreign and domestic ringback revenue.
For over 75 years, the major recording companies have had contracts with the American Federation of Musicians of the United States and Canada (AFM) requiring the companies to share a portion of sales revenue with musicians. Most of the revenue was originally from record sales and later CD sales.
In 1994, AFM and the recording companies entered into an agreement, subsequently renewed, requiring the companies to pay 0.5 per cent of all receipts from digital transmissions including audio streaming, non-permanent downloads and ringbacks.
“The record companies should stop playing games about their streaming revenue and pay musicians and their pension fund every dime that is owed. Fairness and transparency are severely lacking in this business. We are changing that,” said AFM International president Ray Hair.
Last year independent auditors discovered that the recording companies had not made the required revenue payments from foreign audio streams, ringbacks, and foreign non-permanent downloads. Attempts to reconcile the issues outside of court have been ongoing for several months to no avail. Suit was filed in New York.
This is the fifth lawsuit filed against major media corporations for contract violations in the past few months. Under Hair’s leadership, AFM has begun aggressively enforcing existing contracts and standing up to large corporations that fail to pay musicians when their work is reused or offshored.
The suit seeks payment for all missing revenue owed the AFM Pension Fund, late payment penalties, interest, damages and legal costs.
Hollywood
Disney to cut 1,000 jobs in major restructuring drive
Layoffs span ESPN, studios and tech as company pivots to growth
MUMBAI: The magic isn’t disappearing but it is being reorganised. The Walt Disney Company has announced plans to cut around 1,000 jobs as part of a sweeping restructuring effort aimed at sharpening its edge in an increasingly unpredictable entertainment landscape. The move, led by CEO Josh D’Amaro, reflects a broader internal reset as the company rethinks how it operates, allocates resources and competes in a fast-evolving industry. In a memo to employees, D’Amaro acknowledged the difficulty of the decision but framed it as a necessary step to ensure Disney remains “efficient, innovative, and responsive” to rapid shifts in consumer behaviour and technology.
The layoffs will span multiple divisions, including marketing, film and television studios, ESPN, technology teams and corporate functions. Notifications have already begun, signalling that the restructuring is not a distant plan but an active transition underway.
Importantly, the company has clarified that the cuts are not performance-driven. Instead, they form part of a wider transformation strategy aimed at building a leaner, more agile organisation, one better equipped to respond to streaming dynamics, digital disruption and evolving audience expectations.
The timing is telling. The global entertainment industry is in the middle of a structural shift, with traditional television revenues under pressure and box office returns becoming increasingly volatile. Meanwhile, streaming platforms and digital-first competitors continue to redraw the rules of engagement, forcing legacy players to rethink scale, speed and storytelling formats.
For Disney, long synonymous with blockbuster franchises and timeless storytelling, the pivot is both strategic and symbolic. The company is doubling down on technology, direct-to-consumer services and content ecosystems that align with modern viewing habits, where audiences expect immediacy, personalisation and cross-platform experiences.
Even as the restructuring unfolds, D’Amaro struck a note of optimism, reiterating Disney’s commitment to creativity and long-term growth. Support measures for affected employees are expected as part of the transition, though details remain limited.
In essence, this is less about cutting back and more about reshaping forward. As Disney redraws its organisational map, the message is clear, in today’s entertainment world, even the most magical kingdoms must evolve or risk being left behind.
