With iTunes Match, all your music — even songs you’ve imported from CDs — can be stored in iCloud. So you can access your music from all your devices and listen to your entire library, wherever you are.

Does iTunes Match stream or download songs?
On a computer, any songs stored in iCloud will stream over the air when played, though you can download them at any time by clicking the iCloud download button. iOS devices will start playing tracks from iCloud as they download and will store them so that you can listen to them later even if you don’t have a network connection. Apple TV only streams songs.