The simple round-robin is a way to share the computing resource among a set of processes(threads) but not the one used in Windows. Each thread has it's static and dynamic priority. The scheduler
picks up the a thread with a highest priority to run and gives it a time slot to execute. If the thread consumed the time slot completely, then it is swapped out from execution by the scheduler preventively, or the thread may give the rest of the time slot back to the system voluntary if it has nothing to do more (for example it is waiting for the end of IO operation).
In your your particular question there is another thing that creates the continuous play of sound. It is buffering. The media player reads data in advance from the media and then queues it to the hardware to play. So the hardware should always have a buffered data in advance, otherwise the sound will have interruptions. Nowadays our computers are powerful enough to supply the necessary stream to the hardware even under notable loads.
In old days if you run many apps at once and the system starts to swap in and out the processes from the disk (from the OS point of view is more important thing than to give the media player the opportunity to run) then you could have your music played with gaps of silence.