In practise yes, it can. But I got a Samsung 3D Smart TV and I could not get it to work. The software was incompatible even though I updated it all online. - For me it was a waste of time & money. Nice piece of kit though, slim and not intrusive, it just got the better of me.
It's a good question and I have a Samsung Smart TV, so I tried it - the answer not a surprising NO. Whilst the drive does spin-up the movie DVD was not recognised. I expect the same thing to happen with a music player too. In both cases it's not designed to do that.
There is supposed to be a setting on it to do something along the lines of what you want (I think it is supposed to be by holding in the button for a set time) but like others who have replied I have been unable to get it to work. As a blue ray drive for a laptop it is brilliant though.