The undermonetization of the Prime membership will be an important growth lever for $AMZN

The price/value gap is evident in the US, but more so in international markets.

Let's see some numbers for Spain.

$NFLX costs a minimum of €7.99/month and $SPOT costs €9.99/month

I pay €36/year for my Amazon prime membership and I could get Amazon Music unlimited for an additional €9.99/month, bringing the yearly total to €156 for both subscriptions.

By paying €156 euros I would have access to:

On the other hand, it would cost me €215/year (39% more) to enjoy Netflix (the low tier) and Spotify and I would forfeit fast shipping.

Yes, Spotify might be better than Amazon Music today, but the gap is closing

Yes, Netflix might be better than Prime Video today, but the gap is also closing

Ps: I'm not a typical Netflix user because I don't watch a lot of shows