Yandex will invest 100 billion rubles to purchase rights for, and production of creative content in 2024-2025

MOSCOW. June 19 (Interfax) - Yandex plans to invest more than 100 billion rubles in the development of creative industries in 2024-2025, a company statement says.

The funds will be used to purchase the rights to films, TV series, music, books and sports broadcasts, as well as for the production of new TV series, films, books and offline events. How the investments will be distributed is not specified.

The company said that a significant part of the investment is a reinvestment of income received from Yandex Plus subscribers, which currently number over 30 million.

Yandex's investment in content over the previous three years totals approximately 73 billion rubles.