A Wednesday report from the Recording Industry Association of America (RIAA) has revealed that digital music sales have reached an all-time high of $4.51 billion.

In particular, streaming services overall earned $1.87 billion in 2014, an increase in value of one-third from 2013. The leaders in the streaming segment were Rhapsody, Spotify, Pandora and SiriusXM and total of $7.7 million was earned in paid subscriptions last year.

RIAA reported a retail revenue value of $6.97 billion in 2014. The industry's revenue mix last year was more balanced between physical, digital and streaming sources than ever before.

Permanent downloads remained the largest source of revenue at 37%. Downloads and audio-streaming services together accounted for 64% of the total market value.

A recap for yearly earnings of digital music sales is released by RIAA each year. Sales from CDs dropped dramatically and the major players are unable to capitalize and create new sources of revenue for themselves and their artists.

Although total revenues of 2014 did dip from $7 billion to $6.972, there are plenty of promising signs, notably in streaming.

Physical and digital sales continue to fall at a somewhat discouraging clip and digital single downloads fell from $1.567 billion to $1.409, down 10.1%. Digital album downloads fell $1.232 billion to $1.150 or 6.6%. Music videos and ringtones continue to fall rapidly.

Future of music consumption, streaming is witnessing hope. SoundExchange payouts, or royalty payments from various digital radio sources, grew 31% to $773 million.

Impressive growth was shown by subscription services in both paid subscription and ad-based revenue, which grew 25% to $800 million for paid subscribers and 34% to $294 million for ad-supported.