itunes library not compatible with new version of iTunes??

Have you tried re-installing the newest version of iTunes?

I have the same problem since upgrading to iTunes 8.01. I have tried downloading a new copy of 8.01 and I have tried the instructions in the article "No content shows up in iTunes after updating".

I can get all my albums to come up in iTunes by clicking on an album title in Finder. That suggests the error message is being generated in error, probably from the iTunes FILE which is updated each time iTunes is updated. I have always kept my large iTunes library on a different hard disk from iTunes and its various support files. Up to now this has not been a problem. Hopefully someone will have a workaround for this problem. Until then I will make my startup access via the Finder.

Did you downgrade your iTunes to an earlier version? If you did then you also need to go use a 'previous' library file. When iTunes upgrades your library it places a copy of your old library file in the 'previous' folder which is in the iTunes folder.

MJ

I have run into the same problem. Like others here I could get to my library and playlists via the finder. Next I tried re-creating my iTunes library and playlists as described by Article HT1451. This process is easy enough but takes some time if you have a large library. Once I finished the re-creation process my iTunes opened without any problem from the iTunes icon. However if I opened iTunes via the finder, then opening iTunes from the icon went back to the old error message!! Fixing it required another re-creation process. Like others my music and video files are on a separate hard drive. Looks like a bug Apple needs to fix. In the meantime stick with either the icon or the finder but not both. Hope this helps.