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Pro Works well with iTunes, SoundCloud, and even YouTube
Pro Unlimited online storage
It makes sense as lossless music files are generally very large.
Pro Supports lossless codecs
Con Uploading is poor on a MAC and non-existent on a Windows OS
Promotional blurb is good but the reality is far poorer.
Con The app could be better
First of all, it doesn't have a management app for LOOP. It could be a pain to manage your music library when you've uploaded quite a few. But the official team mentioned that they are actually working on it.
Secondly, you can't customize the UI or even the color scheme.
Third, the music metadata is not configurable inside LOOP. If any song you have uploaded has wrong metadata, you would have to upload it again, rather than edit it "on-the-fly". They are working on it though.
Subscription costs $9.99/mo or $99.99/yr.