HOOQ tweets heartfelt farewell to Indonesian users as it formally shuts

HOOQ recently thanked Indonesian users for using its streaming service for the past five years, formally closing its doors on 30 April. In a series of tweets on Twitter, HOOQ said without its users, the company would not have been able to reach its furthest point, which was today. 

"Thank you for our time together. Thank you for your support all this time. Today, we leave. #ThankyouIndonesia," one of the tweet said. It added that while this day might be filled with sadness, the memory of its users' time with HOOQ will be imprinted in their hearts and is a memory that will erase the tears that flow down the cheeks.

"When a story begins, a final round is born which will close the story itself. Balance. Yin and Yang. Alpha and Omega. Milly and Mamet," HOOQ tweeted.

In March, HOOQ commenced a creditors' voluntary liquidation, according to a filing on the Singapore Stock Exchange. The filing adding then that liquidation of HOOQ is not expected to have any material impact on the net tangible assets or earnings per share of Singtel. HOOQ was established in January 2015 in partnership with Sony Pictures Television and Warner Bros. Entertainment offering regional over-the-top (OTT) video service in Asia. 

HOOQ's spokesperson told Marketing Interactive previously that the decision to close HOOQ was driven by structural changes in the OTT video market and its competitive landscape. Global and local content providers are increasingly going direct, the cost of content remains high, and emerging market consumers’ willingness to pay has increased only gradually amidst an increasing array of choices, the spokesperson added.

"As a result, HOOQ has not been able to grow sufficiently to provide sustainable returns nor cover escalating content costs and the continuous operating costs of an independent OTT distribution platform. These are permanent structural changes that will not be alleviated as more people stay home and turn to digital entertainment options," the spokesperson added. Recently, The Business Times reported that 240 of its global workforce across six markets were laid off as a result of the liquidation.

The news came months after HOOQ rolled out a brand campaign last October to further its hyper-local approach to entertainment in Singapore, Indonesia, Thailand, and the Philippines. Named “Hooked On You”, the campaign featured a brand film, and an original song written and produced by HOOQ. HOOQ also previously unveiled four localised versions of an “eye-conography” created by Dentsu's Jayme Syfu and adapted from the infinity symbol in the HOOQ logo. 

Separately, HOOQ also partnered with Grab in February 2019 to offer video entertainment content to Southeast Asian users. As part of the partnership, Grab introduced the "video" tile to Indonesian users, beginning with platinum customers. The partnership was established as Grab wanted to expand its customer offerings to include a video service and increases its stronghold as an everyday app. It also included access to HOOQ’s catalogue of popular Indonesian, Asian and Hollywood titles, new Original series, as well as 19 free-to-view channels. Marketing Interactive has reached out to Grab to for comment about the partnership.