How to move your iTunes Library to another location: Transfer your iTunes library to an external drive
Another option if your iTunes library is too big is to copy everything to an external drive. To perform this, you'll first want to enable 'External disks' and 'Hard disks' in your Mac's Preferences, found under the Finder menu.
Once you've enabled the option, you can drag the iTunes backup from your old computer to your external hard drive. To locate the Music folder on your Mac, locate the Home option in the Finder menu, then double-click the Music folder.
Within the Music folder, you'll find the iTunes folder, which you'll want to drag and drop into your Hard Drive. This will now move your iTunes files to your external hard drive. Depending on the size of your music collection, it might take longer.
After you've finished, you'll want to relaunch iTunes, by holding down the Option (Alt) key and clicking on the iTunes application. This will then prompt you to choose a new library.
In the Choose iTunes Library dialog, click Choose Library and select the iTunes folder on your external drive. This can be enough for iTunes to properly associate itself with the copied library, but it's also worth going into the Advanced preferences and checking that the iTunes Media folder location is correct. If not, click Change and reconfirm.
When using external drives, some things are worth bearing in mind. First, unless the drive is mounted, you won't have access to your iTunes files. On that basis, a tiny USB Flash drive is a good bet (if you can get one that's big enough) rather than a large external hard drive. Also, while you can use a networked drive's iTunes library, do so with caution, and don't try to connect multiple iterations of iTunes to it.
Finally, if your media content is important to you, ensure you have multiple copies of it. This means that if you're backing up your Mac you should also be backing up the external drive with your iTunes library stored on it. If you don't, there may come a day when you want to play your favourite songs and all you find is silence from a dead drive.
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