Hooq (stylised in all caps, pronounced like ''hook'') was a Singaporean
video on demand streaming
Streaming media is multimedia that is delivered and consumed in a continuous manner from a source, with little or no intermediate storage in network elements. ''Streaming'' refers to the delivery method of content, rather than the content it ...
service. It was a joint-venture of
Singtel
Singapore Telecommunications Limited, commonly known as Singtel, is a Singaporean telecommunications conglomerate and one of the four major telcos operating in the country. The company is the largest mobile network operator in Singapore with ...
,
Sony Pictures
Sony Pictures Entertainment Inc. (commonly known as Sony Pictures or SPE, and formerly known as Columbia Pictures Entertainment, Inc.) is an American diversified multinational mass media and entertainment studio Conglomerate (company), conglom ...
and
Warner Bros., with presence in the
Philippines,
Thailand,
India,
Indonesia, and
Singapore. Hooq filed for liquidation on 27 March 2020, and shut down on 30 April 2020. Its assets were acquired by
Coupang.
History
Hooq was a joint-venture of
Singtel
Singapore Telecommunications Limited, commonly known as Singtel, is a Singaporean telecommunications conglomerate and one of the four major telcos operating in the country. The company is the largest mobile network operator in Singapore with ...
,
Sony Pictures
Sony Pictures Entertainment Inc. (commonly known as Sony Pictures or SPE, and formerly known as Columbia Pictures Entertainment, Inc.) is an American diversified multinational mass media and entertainment studio Conglomerate (company), conglom ...
and
Warner Bros., established on 30 January 2015, when the presence of
Netflix in Asia was still limited.
An online streaming video platform, Hooq would be able to capitalise on Singtel's reach and distribution to deliver Hollywood movies, television series, as well as local programming to Asian markets.
Hooq also produced original content to attract subscribers,
starting with a mini-series based on the multi-award-winning movie,
On the Job which revolves around a hard-hitting topic in Philippine society.
The platform was progressively launched in the
Philippines,
Thailand,
India,
Indonesia, and
Singapore over 2015 and 2016.
The content on the platform was accessed with a monthly or yearly subscription fee.
Hooq was named Best Mobile App in the Media, Film, TV or Video category at the
GSMA's Global Mobile (GLOMO) Awards 2016 in
Barcelona.
Due to its fast growing, but loss-making status in Singtel's portfolio, an initial public offering was considered for value realisation in 2019. However, on 27 March 2020, Hooq filed for liquidation, citing "significant structural changes" that had occurred in the over-the-top (OTT) video market and its competitive landscape. Its global headcount of 240 staff was affected and laid off during this liquidation process. HOOQ shut down on 30 April 2020.
Ownership
Singtel owned 65 percent of Hooq's shares, while Sony Pictures and Warner Bros. each owned 17.5 percent.
The share structure remained unchanged when it raised an additional in 2017.
On 27 March 2020, when announced its plans for liquidation, it was revealed that Singtel has an indirect control of 76.5 percent of the company.
In July 2020, South Korean e-commerce company
Coupang acquired Hooq's assets, which are being used as the basis of its own service
Coupang Play.
References
External links
*
{{Warner Bros.
Subscription video on demand services
2015 establishments in Singapore
Singaporean entertainment websites
Internet properties established in 2015
2020 disestablishments in Singapore
Internet properties disestablished in 2020
Defunct subscription services
Products and services discontinued in 2020
Defunct companies of Singapore
Defunct video on demand services
Sony Pictures Entertainment
Warner Bros.