BPI chief executive Geoff Taylor has hailed the UK music industry’s performance over the last 12 months as streaming reached the “tipping point” of more than half of total consumption.

According to Official Charts Company data, 68.1 billion audio streams were racked up by platforms including Spotify, Apple Music and Deezer during 2017. As well as a substantial year-on-year increase of 51.5%, the huge streaming tally represents 50.4% of total music consumption over the 12 months.

“Clearly, we’ve reached the ...