Apple's investment in Beats couldn't come at a better time.

On Thursday, a long anticipated eventuality finally became reality. The revenue generated by streaming music in 2014 was greater than the revenue brought in from CD sales.

This is the first time in history that online music has topped revenue from its physical packaging counterpart.

The Recording Industry Association of America puts sales of streaming music in the U.S. at $1.87 billion last year. And CD sales? Very close but still behind at $1.85 billion.

"Streaming revenue -- which includes subscription services like Spotify and Apple's Beats Music, radio like Pandora and Sirius XM, and ad-supported operations like Vevo, YouTube and free versions of Spotify -- jumped 29 percent last year, while CD revenue dropped 12.7 percent," the report summary from CNET reads.

Although streaming revenues are huge, total music sales actually slipped slightly last year in the United States 0.5%) to $6.97 billion.

Source: The Recording Industry Association of America (via CNET)