If 'media libraries' is a term for a specific thing already available in Windows, I wouldn't know, as I never heard of it.

But I have several programs like Mediamonkey that can indeed be used as a jukebox.

Even simpler is something like 1 by 1 directory player.

Indexing photos is another issue, and there are many programs which will do that.

For indexing of EVERYTHING or any subset of everything, the best (free) thing on the planet is http://indexyourfiles.com/