WarnerMedia and Sony-Backed Asian Streamer Hooq Files For Liquidation1 min read
Reading Time: < 1 minuteHooq, the multi-territory streaming service in Asia backed by WarnerMedia and Sony, filed Friday for voluntary liquidation in Singapore.
In recent weeks it had been reported that the company had failed to make full remittances to some of its in-production original series.
The company was started in 2015 and remains majority controlled by Singaporean phone network provider Singtel. Hooq is operational in five territories: Singapore, Philippines, Thailand, Indonesia and India.
The company said Friday that it had been unable to grow fast enough to keep up with global and regional rivals, and blamed “significant structural changes” in the over-the-top (OTT) video market in the five years since its launch.
Photo credit: Courtesy of EJ
