SINGAPORE Telecommunications (Singtel) on Friday announced that together with Sony Pictures Television and Warner Bros Entertainment (WB), it has established HOOQ, a joint-venture startup, to offer over-the-top (OTT) video services in Asia.
HOOQ will deliver both Hollywood blockbusters and television series, as well as popular local movies and programmes, to customers anytime, anywhere, by enabling them to stream and download their favourite shows on their device or platform of choice.
HOOQ will be rolled out progressively - in the Singtel group's Asian footprint, including Indonesia, the Philippines, India and Thailand - from the first quarter of 2015.
While Singtel will provide market access to its customer base and billing expertise, the studios will provide access to their premium content and knowhow.
"Consumers expect premium entertainment content to be available to them at their convenience and as a result, over the top delivery has become an important part of our business," said George Chien, executive vice-president, Networks, Asia-Pacific, Sony Pictures Television. "Through this partnership, we hope to create a service to meet that demand as it grows in Asia."
At launch, HOOQ will have a catalogue of over 10,000 movies and TV series including titles from partners Sony Pictures Television and Warner Bros Entertainment.
Meanwhile, Singtel's wholly-owned subsidiary, HOOQ Digital Holdings (HDH), has also entered into a conditional joint-venture agreement with WB and AXN Investment - a wholly-owned subsidiary of Sony Pictures Entertainment - to invest in HOOQ.
Upon the allotment and issue of shares at completion, the share capital of HOOQ will increase from US$2 to US$27.6 million, with HDH, WB and AXN holding 65, 17.5 and 17.5 per cent respectively.