No it's not. While it's true that that suspending their service in Russia costed them 700,000 subscribers, Netflix is projecting that they will lose 2,000,000 users this quarter. [1]

[1]: https://www.latimes.com/entertainment-arts/business/story/20...

Yes it is. GP is talking solely about what's already happened: -200,000 after having cut off 700,000 from Russia, which is a net gain of 500,000 outside of Russia.

But the projection has nothing to do with cutting off Russians. At least not directly.

They were responding to someone who phrased their comment as if they were also talking about what already happened, not as if they were referring to projections.

> Netflix losing subscribers is a false narrative.

So is that why the increasing competition from the likes of Apple, Disney+ and HBO, recent price increases and password sharing loopholes have plagued its growth?

All of that explains why they are (still) losing subscribers. Pulling out of Russia, just accelerated it and that was self-inflicting.

> So is that why the increasing competition from the likes of Apple, Disney+ and HBO, recent price increases and password sharing loopholes have plagued its growth?

This is also a false narrative. Netflix subscribers seldomly churn. Long lived accounts typically don't cancel, since new content comes out on a weekly basis. You can't cancel your cable subscription and just buy Disney+; you usually keep Netflix around too. Netflix is only tangentially competing with other streamers; they are directly competing with cable.

The subscriber count is affected by two things: new subscribers coming on board, and existing subscribers leaving. Since subscribers usually don't leave, the miss was on the new subscribers coming in. It absolutely was due to high growth countries (like Russia) not growing.