I use Plex to stream my local music library. The "Plexamp" client player is, well, buggy as hell, but it mostly works, and will transcode on the fly if it needs

I use Plex to stream my local music library. The "Plexamp" client player is, well, buggy as hell, but it mostly works, and will transcode on the fly if it needs to. As a bonus it works for videos too.