iWorld
Multi-territory video streaming service Hooq files for liquidation
MUMBAI: Multi-territory video streaming service Hooq said last week that it has filed for liquidation as giant players are looking more into streaming services and the competition intensifies across the globe.
The service was launched in 2015 by the Singapore-based telecom company Singtel and was also backed by Warner and Sony. Along with India, Hooq was also available in the Philippines, Thailand and Indonesia.
“Singapore Telecommunications Ltd (“Singtel”) wishes to announce that HOOQ Digital Pte Ltd (“HOOQ”), a joint venture company in which Singtel has an indirect 76.5 per cent effective interest, has commenced a creditors’ voluntary liquidation. The liquidation of HOOQ is not expected to have any material impact on the net tangible assets or earnings per share of Singtel,” it said in a stock exchange filing.
According to media reports, Hooq said in a statement that it had been unable to grow fast enough to keep up with global and regional rivals, and also noted “significant structural changes” in the over-the-top (OTT) video market in the five years since its launch.
“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,” said Hooq.
“Because of these changes, a viable business model for an independent, over-the-top distribution platform has become increasingly challenged,” it added.
Hooq has appointed Messrs Lim Siew Soo and Brendon Yeo Sau Jin as its joint and several provisional liquidators. A shareholder meeting and creditors’ meeting have also been set for 13 April.
Back in 2018, Hooq struck a unique deal with India’s leading streaming service Hotstar. Under the partnership, HOOQ’s 6,000 hour catalogue of Hollywood TV shows and movies were made available for Hotstar Premium users. It also started offering more than Pay TV channels to their premium offering in partnership with brands across Asia.
Experts already warned about upcoming consolidations and exits in the media industry. Towards the end of 2019, Hong Kong-headquartered PCCW Media’s Asian video streaming service Viu also decided to fold its India operations.
iWorld
MS Dhoni invests in Kuku, joins Kuku TV as brand ambassador
Cricket icon backs AI storytelling platform, fronts Kuku TV campaign
MUMBAI: MS Dhoni has invested in Kuku and joined its short-form drama app Kuku TV as brand ambassador, signalling a high-profile bet on India’s fast-growing AI-led content space.
Kuku, a mobile-first storytelling platform, operates across formats with apps such as Kuku TV for micro-dramas, Kuku FM for audio content and Guru for learning-led entertainment. Founded in 2018, the company has scaled rapidly, crossing 350 million installs and building a catalogue of over 20,000 titles across multiple Indian languages.
Dhoni said his decision to invest and partner with the platform was driven by its distinct approach to storytelling and its strong growth trajectory. MS Dhoni said, “I chose to invest in Kuku, and also come on board as the ambassador for Kuku TV, because the platform really stood out to me. It has built a differentiated entertainment experience for audiences across India, spanning multiple languages and formats. The growth has been impressive, and I connect strongly with the founders, who come from small towns like mine and have built something of this scale. I believe in their vision of building an AI-driven storytelling platform from Bharat, for Bharat, and for the world.”
Founded by Lal Chand Bisu, Vinod Kumar Meena and Vikas Goyal, the platform positions itself at the intersection of technology and storytelling, using AI to create and distribute bite-sized content tailored to mobile audiences.
Sharing his perspective, Kuku co-founder and CEO Lal Chand Bisu said, “MS Dhoni is known for backing bold decisions that others might hesitate to take. At Kuku, we are also taking bold bets. That spirit of unconventional thinking resonates deeply with us.”
Adding to this, Kuku co-founder and COO Vinod Kumar Meena said, “Our beloved Thala is one of the rare personalities with truly nationwide appeal. As we build Kuku for all of India, that connection makes him a natural fit for us.”
Further, Kuku co-founder and CTO Vikas Goyal said, “MSD has a unique understanding of people. As we build for both creators and consumers, that perspective will be incredibly valuable, especially as we continue strengthening our AI-driven storytelling stack.”
Backing the momentum, Panthera Peak Capital managing director Nikhil Bhandarkar said, “Kuku’s vision, execution, and clarity of thought are exceptional, qualities that closely mirror MS Dhoni’s approach. We are excited to partner with the team as they build Kuku into a global entertainment platform.”
To mark the association, Kuku TV has rolled out the campaign Dhoni Watches Kuku TV, anchored by a brand film that plays on Dhoni’s instinctive decision-making. Built around short, engaging stories delivered in minutes, the campaign highlights the platform’s promise of quick, compelling entertainment.
With Dhoni stepping in as both investor and face of the brand, Kuku appears to be doubling down on its ambition to take AI-driven storytelling from India to a global audience, one short story at a time.
