Hooq

Hooq (stylised in all caps, pronounced like hook) was a Singaporean video on demand streaming service. A joint venture of Singtel, Sony Pictures and Warner Bros., it had a presence in the Philippines, Thailand, India, Indonesia, and Singapore. Hooq was valued at $420 million in March 2015. The company 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, Sony Pictures and Warner Bros., established on 30 January 2015, when the presence of Netflix in Asia was still limited.[1] An online streaming video platform, Hooq was intended to capitalise on Singtel's reach and distribution to deliver movies, television series, as well as local programming to Asian markets.[1] It also produced original content to attract subscribers,[2] starting with a mini-series based on the movie On the Job, which revolves around political assassinations in the Philippines.[3]

The platform was progressively launched in the Philippines, Thailand, India, Indonesia, and Singapore in 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 Awards 2016 in Barcelona.[6]

Due to its fast growing, but loss-making status in Singtel's portfolio, an initial public offering was considered in 2019.[7] However, on 27 March 2020, Hooq filed for liquidation, citing "significant structural changes" that had occurred in the over-the-top video market and its competitive landscape.[8] Its global staff of 240 was laid off during the liquidation.[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$25000000 in 2017.[2] On 27 March 2020, when announcing its plans for liquidation, it was revealed that Singtel had an indirect control of 76.5 percent of the company.[12]

In July 2020, South Korean e-commerce company Coupang acquired Hooq's software assets, which are being used as the basis of its own service Coupang Play.[13][14]

In early 2024, South Korean search engine marketing company Hedley Digital (now known as SEO Korea) acquired Hooq's digital assets and transformed it into an over-the-top meta search platform.[15]

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