The end of HOOQ?: Streaming service files for liquidation

2020 has been so far a rocky year for everyone and that includes businesses. Another one bites the dust as Singapore Telecommunications LTD (Singtel)-backed streaming service HOOQ reportedly files for liquidation.

HOOQ reportedly files for liquidation

No more HOOQ?

The video-on-demand service HOOQ launched in 2015 across Southeast Asian countries and India, back when the likes of Amazon Prime and Netflix were still inaccessible to these markets.

The service is a joint venture between Singtel, Sony Pictures Television, and Warner Bros Entertainment. 

In the Philippines, HOOQ partnered up with telecommunications company Globe, under Globe Studios, to produce original content, the first of which was OTJ The Series. The series tapped director Erik Matti, Reality Entertainment, along with big stars to come into fruition. 

HOOQ also launched Filmmakers Guild which is aimed at discovering and grooming brilliant filmmakers across SEA. 

Despite its many partnerships including major entertainment companies such as Disney, Miramax, DreamWorks, and groundbreaking initiatives to expand its library of content and maintain active users, the service as reports say struggled to grow and cover costs in the region as it failed to make gains against the competition.

What do you think?

Source: Reuters