Free trials boost Spotify subscribers at cost of revenue

(Reuters) - Spotify Technology SA on Wednesday forecast current-quarter revenue largely below analysts' estimates, as the streaming service spends more on promotions to lure listeners in its battle against Apple Music and Amazon.Shares of the Swedish company were down 5% at $147 in midday trading.Spotify's paid subscriptions rose a better-than-expected 29% in the fourth quarter, largely from discounted promotional plans.The company ran several campaigns in the quarter, including a "3 months on..