The perception of time is a subjective experience influenced by various factors such as individual psychology, external stimuli, and personal experiences, and it is often assessed with the use of the reproduction task that involves individuals estimating and reproducing the duration of specific time intervals. In the current study we examined the ability of 97 musically-trained participants to reproduce the durations of temporal intervals that were filled with music or speech stimuli. The results revealed a consistent pattern of durations being underestimated, and an association was observed between the duration of musical training and the level of accuracy in reproducing both music and speech tracks. In addition, speech tracks were overall reproduced more accurately, and as longer, than music tracks. Structural models suggested the presence of two, highly correlated, dimensions of time perception for speech and music stimuli. that were related to the duration of musical training, but not with self-reported rhythm perception. The possible effects of arousal and pleasantness of stimuli on time perception are discussed within the framework of an internal clock model.