Arduino or Raspberry Pi for my project
As mentioned in the comments, a Raspberry Pi would be superior here.

The standard AVR (not Due/Galileo/Yun) Arduino is superior to the Pi in only one area: IO. It has a 5V logic that's more compatible than the Pi's 3.3V (although you can use a logic level shifter). The Arduino also features more PWM pins and an ADC, along with interrupts. An Arduino also is a lot simpler to use for basic projects, but it becomes impractical when you need more computing power.

A Pi excels at the data-crunching side of things. It can handle a lot more data than the Arduino could ever dream of, and then some! Just to put things in perspective, the Pi has a clock speed of 700 MHz by default and the Arduino Uno has one of 16 MHz (with a less powerful architecture).

For your purpose, the Pi's audio jack and ethernet port are unmatched on the Arduino. Sure, you can get shields that replicate these behaviors, but the Pi's built in functionality doesn't cost extra and it's more powerful.