The American media giant behind MTV and Nickelodeon plans to invest in Arabic content as it looks to grow its presence in the Middle East.
Viacom, which is listed on the Nasdaq exchange, says local productions and events centered around its brands in this region are both in the pipeline.
"We're looking over time to have a more substantial position in the Middle East, like we do in most other parts of the world," said Robert Bakish, the chief executive of Viacom International Media Networks.
"It is about building an entity that can produce more original programming for the region and events for the region. Investment will be part of it," he added. "From a consumer demographic perspective, there is great potential here."
Viacom currently runs a feed of the music station MTV Arabia in this region, and its children's station Nickelodeon is available locally.
But Mr Bakish said Viacom was looking to increase local productions, which could include Arabic versions of popular MTV formats such as Cribs.
"We're not where we want to be in the Middle East … We're not at a place where we operate a bouquet of services, where we have a substantial revenue stream, where we're able to create critical mass of localised programming, which is very much where we want to get to. And over time, we're confident that we will get there."
The Arab Media Group, based in Dubai, previously ran the stations MTV Arabia and Nickelodeon Arabia in the region. Mr Bakish said these brands had now been taken back under the control of Viacom.
"That's something that the [global finanical] crisis hit particularly hard. So we took the brands back, and we operate at 24-hour feed that we own," he said.
This could also include the launch of other stations in the region. "We don't have a feed of Comedy Central in the Middle East. It's fair to say that we aspire to do that," said Mr Bakish.
This year, MTV India launched in the Middle East, where it is now being beamed to more than 150,000 homes. That station is run by IndiaCast, a joint venture between TV18 and Viacom18, which is linked to Viacom.
Viacom also disclosed findings of a survey on the "millennial" youth generation in Saudi Arabia and Egypt. It was the first time Middle Eastern countries had been included in the report.
bflanagan@thenational.ae
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Ashes 2019 schedule
August 1-5: First Test, Edgbaston
August 14-18: Second Test, Lord's
August 22-26: Third Test, Headingley
September 4-8: Fourth Test, Old Trafford
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Name: HyperSpace
Started: 2020
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Based: Dubai, UAE
Sector: Entertainment
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Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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UAE currency: the story behind the money in your pockets
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What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
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