Grab Indonesia president Ridzki Kramadibrata told Marketing in a statement, "As the market with the largest digitally-engaged user base in Southeast Asia, Indonesia plays an important role in the digital industry. Above all, Indonesia is a key market for Grab and our partner, HOOQ. Video entertainment has one of the highest growth trajectory in Southeast Asia. We are delighted to be able to offer this new service to new and existing users within Grab’s platform."
According to Kramadibrata, the move seeks to reinforce Grab's strategy to become an everyday "superapp" in the region. He added that Grab’s services are currently available in 222 Indonesian cities with 60% of the two-wheel market share and 70% of the four-wheel market share.
In the press release, Grab said that the partnership will tap on the huge online video demand in the region, where subscription revenues are set to grow 6.5 times to US$390 million in 2022 from US$60 million in 2017. About 80% of all Southeast Asians reportedly watch online videos everyday.
The company is also continuing to look for partners to increase its service offerings and expand its footprint in Southeast Asia. On the content front, Grab is working with content providers, like ONE Championship and Yahoo to provide a variety of content to our users.
"Over the next few years, we hope to increase the number of entrepreneurs on our platform from nine million to over 100 million. And the only way we can accomplish this is by continuing to expand our network of partnerships and our ecosystem of services for our drivers, our consumers and our small- and medium-sized enterprise partners," said Kramadibrata.