October 16, 2021, 3:40

Russian Film and IT Organisations to Receive Subsidies for Adaptation of Content Foreign Markets

Russian Film and IT Organisations to Receive Subsidies for Adaptation of Content Foreign Markets

The Ministry of Economic Development and Russian Export Centre (REC) have green-lighted a provision of grants to Russian film and IT organisations to adapt film and IT to foreign markets.

“The Ministry of Economic Development of Russia together with REC have concluded agreements on the provision of grants to Russian film and IT organisations within the framework of the programme of adaptation of their production to foreign markets. In total for 2021-2024, annual financing of the program was provided in the amount of 500 million rubles,” the REC states.

According to REC, currently, 12 agreements to improve the competitiveness of Russian film and IT have been signed with 10 companies for a total of 469.7 million rubles – a total of 21 feature films and 24 animated films, series, and one IT project will be supported as part of the 2021 campaign. The planned volume of export earnings from 2021 to 2023 is reported to be 2.34 billion rubles.

“We see much willingness of film and animation companies to participate in the program. The results of its implementation in 2020 confirm that such support allows participants to enter foreign markets as major players with ready-made, country-adapted product and promotional materials,” Vladimir Ilichev, deputy minister of economic development of the Russian Federation, noted.

Sourse: sputniknews.com

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