Same! and jq's regexp functions are quite powerful for transforming text into something more structured:

  $ echo -e "10:20: hello\n20:39: world" | jq -cR 'capture("^(?<timestamp>.*): (?<message>.*)$")'
  {"timestamp":"10:20","message":"hello"}
  {"timestamp":"20:39","message":"world"}


  $ echo -e "10:20: hello\n20:39: world" | jq -Rn '[inputs | capture("(?<t>.*): (?<m>.*)$").m] | join(" ")'
  "hello world"

Also using inputs/0 etc in combination with reduce and foreach it's possible to process streams of text that might not end.