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7tutorials.com has a great writeup on how to share music with Windows Media Player.
Check out their Original Article.

For a fast, secure way to share media between Windows 7 machines, you can share your Windows Media Player 12 library over your HomeGroup network. This tutorial will show you how to do just that, as well as how to allow remote control of your media player and play to a networked media device such as an Xbox 360.

Connecting Your Windows 7 Machines to a HomeGroup

The most difficult aspect of this endeavor is getting your Windows 7 systems connected over your home network. Luckily, this is a topic we’ve already covered here at 7 Tutorials. Get the complete instructions by reading The HomeGroup Feature & How it Works. If you haven’t done so already, you’ll want to set up and add media to Windows Media Player 12 as well. All done? Great. Let’s press on. continue reading…