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Helpful answers
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Sep 2, 2016 2:33 AM in response to jmichael99by GeeD,Its easy to transfer your iMovie library to an external Apple-formatted hard drive - see
http://help.apple.com/imovie/mac/10.1/#/mov3fa25bae7
for details. Its best to copy the library rather than move it so you can check that everything is working OK from the external drive before you delete the copy on your internal drive.
Using a network drive is tricky, I have never tried this myself but the following post may help:
iMovie 10.0 and Network Drives
A local external drive will probably work better because you need really fast data transfer.
Geoff.