Movies
Karnataka budget reduces theatre show tax, composition tax
BANGALORE: Karnataka Dy. CM and State finance minister Siddharamaiah has brought down the rates of Show Tax and composition tax paid by theaters, besides announcing sops for children films while announcing the state finance budget.
Show tax and Composite or Composition tax has been cut by around 50 per cent across various thicket price slabs and population size of the place where the Cinema theater is located. The benefit if passed onto the viewer would be just 10 or 20 paise, but distributors, exhibitors and producers would definitely have a reason to smile about.
The industry main demand of a subsidy of Rs 7,50,000/- for every Kannada film has not been met with. Minister Siddharamaiah has announced Rs 2.5 million subsidy for 2 of the best children films while maintaining a subsidy or Rs 1 million for 20 of the best Kannada films. He has also included all award winning Kannada films in the subsidy ambit.
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.
