Hooq
Type of business | Joint venture |
---|---|
Type of site | OTT platform |
Available in | English, Thai, Indonesian |
Founded | 30 January 2015 |
Dissolved | 30 April 2020 |
Headquarters | |
Area served |
|
Owners |
|
Key people | Peter Bithos (CEO) |
Products | Video streaming |
Current status | Offline |
Hooq (stylised in all caps, pronounced like hook) was a Singaporean
History
Hooq was a joint-venture of
The platform was progressively launched in the Philippines, Thailand, India, Indonesia, and Singapore over 2015 and 2016.[1][2][4] The content on the platform was accessed with a monthly or yearly subscription fee.[5]
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.[6]
Due to its fast growing, but loss-making status in Singtel's portfolio, an initial public offering was considered for value realisation in 2019.[7] 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.[8] Its global headcount of 240 staff was affected and laid off during this liquidation process.[9] HOOQ shut down on 30 April 2020.[10][11]
Ownership
Singtel owned 65 percent of Hooq's shares, while Sony Pictures and Warner Bros. each owned 17.5 percent.[1] The share structure remained unchanged when it raised an additional US$25,000,000 in 2017.[2] 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.[12]
In July 2020, South Korean e-commerce company
References
- ^ a b c d Lee, Terence (30 January 2015). "Singtel to start Netflix competitor in Asia with Sony Pictures, Warner Bros". Tech in Asia. Archived from the original on 27 December 2020. Retrieved 1 April 2020.
- ^ a b c "HOOQ raised additional USD25 million from its shareholders – Omdia". technology.informa.com. Archived from the original on 21 August 2020. Retrieved 1 April 2020.
- ^ "Hooq gets 'On the Job' as a mini-series". 3 June 2016. Archived from the original on 27 December 2020. Retrieved 29 September 2016.
- ^ "Singtel inks JV with Warner Bros, Sony Pictures to distribute videos in Asia". Singapore Business Review. 30 January 2015. Archived from the original on 21 October 2015. Retrieved 1 April 2020.
- ^ "TV streaming services in Singapore: Which should you go for?". AsiaOne. 20 September 2019. Archived from the original on 27 December 2020. Retrieved 1 April 2020.
- ^ Bulletin, The Manila. "HOOQ named best mobile app in Barcelona's GLOMO Awards". Manila Bulletin. Archived from the original on 26 April 2016. Retrieved 29 September 2016.
- ^ Leow, Annabeth (27 June 2019). "Singtel CEO's pay nearly halved to S$3.5m". The Business Times. Archived from the original on 27 December 2020. Retrieved 1 April 2020.
- ^ Lam, Fiona (27 March 2020). "Singtel's video streaming service Hooq in liquidation". The Business Times. Archived from the original on 16 September 2020. Retrieved 1 April 2020.
- ^ "240 staff axed by Singtel's Hooq face uncertain future". The Business Times. 23 April 2020. Archived from the original on 30 April 2020. Retrieved 30 April 2020.
- ^ "Streaming service HOOQ to shut down on 30 April". The Jakarta Post. 28 April 2020. Archived from the original on 5 October 2020. Retrieved 30 April 2020.
- ^ "Indian Arrowverse Fans Left in the Dark as Hooq Shuts Down". NDTV. 30 April 2020. Archived from the original on 30 April 2020. Retrieved 30 April 2020.
- ^ "Singtel-backed streaming service HOOQ files for liquidation". CNA. Archived from the original on 27 December 2020. Retrieved 1 April 2020.
- ^ "SoftBank-Backed Coupang Buys Hooq Assets to Take on Netflix". Bloomberg. 9 July 2020. Retrieved 14 July 2020.