The base program is available as freeware but a premium "Gold" license unlocks additional features such as the ability to have multiple media collections, organize files automatically, and others.

[9] MediaMonkey supports music playback using MP3, AAC, WMA, FLAC, MPC, APE, and WAV.

Upon installation, it will scan the user's hard drives for music files and add them to its library.

[17] Version 1.3 was released on October 31, 2002, and added Ogg Vorbis support and the ability to burn CDs.

[20] This synchronization functionality was extended to include syncing to actual iPods in version 2.4, released June 5, 2005.

MediaMonkey 2.5 added improved synchronization for all current iPod, Creative Labs, and iRiver devices, along with full FLAC support.

This version introduced better synchronization with Android devices, library sharing over DLNA / UPnP, improved audio output via WASAPI, the ability to run from a USB stick, and secure CD ripping.

Alpha testing for an open-source, server-only implementation of MediaMonkey was publicly announced on August 15, 2018.

[32]" MediaMonkey has been widely recognized for many years as a leading tool for organizing and managing large libraries of digital music, praised for its automatic functions and other powerful capabilities.