Yandex has announced plans to invest more than 100 billion rubles (approximately $1.1 billion) in the development of its creative sectors during 2024-2025. The investment will focus on acquiring rights to films, TV series, music, books, and sports broadcasts, as well as producing original content, including TV series, films, and books, and hosting offline events.
While the exact distribution of the funds is not detailed, Yandex reveals that a significant portion of this investment will come from reinvesting income from Yandex Plus subscribers, which now exceed 30 million.
This move follows Yandex’s recent trend of substantial investments in content, having allocated 73 billion rubles (around $800 million) over the past three years. The strategic push aims to enhance Yandex’s offerings in entertainment and cultural content, reflecting the growing demand for diverse and high-quality media.
By reinforcing its commitment to the creative industries, Yandex not only boosts its content library but also supports the broader cultural landscape, offering more value to its extensive subscriber base.
Source: Yandex press release
