I have a home built server with WHS 2011 on it with thousands of albums as well as movies, photo's and various other things, but to be honest these days I just tend to use online streaming services for everyday listening/watching.
I tend to stream music using one of my Squeezebox's (I have 3, but one is sitting unused and redundant) if I want something I can't find online - bought my first one 15 years ago and it's still going strong.
If you want plug n play, then a Qnap of Synology is what you're after - there are others WD and Dlink etc...
Happy streaming
D.