Spotify triples profits after raising prices
Biggest music streaming site adds record 38mn users in December quarter
Biggest music streaming site adds record 38mn users in December quarter

Price increases and cost-cutting led to streamer’s first annual profit last year

Increase will come as music-streaming company aims for continued profitability

Market is watching closely for subscribers’ response to increased charges

Streaming group swings to net loss in second quarter, sending shares down 11%

The business of selling music has always been a source of grievance for those who create it

Strong earnings appear to quiet demands from Wall Street to justify up to $135bn in capital expenditures