iMovie
Where are the iMovie library files located on the iMac 24inch M1?
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The iMovie library files are located in the iMovie library folder that in turn is located in the Movies folder on your Mac (Go/Home/Movies), unless you moved it elsewhere. Don’t alter, delete, or move anything in the iMovie library unless you do it through the iMovie app itself, located in the Applications folder.
The media that is contained in the iMovie library is located in the Original Media folders of the individual projects and events in the iMovie library. The Original Media folders are finder folders that are located in the iMovie library.
— Rich