Sharing movies and disk space usage

I have used the various iMovie versions in the past and current using the latest iMovie for Mac. When "sharing" the finished product to iTunes (which is where all my movies have usually been copied to over the years) and also "adding to theatre" then I get two copies on my Mac. One in the iTunes library and one in the iMovie Theatre library. I I like the idea of keeping them all in iTunes in the one place (I used to get rid of the iMovie version) but also appreciate the benefits of the Theatre addition in the latest version of iMovie. So, the question I have is to check if iMovie is clever enough to reference the file so that it only takes up the space of one movie for both libraries (as seems to have happened in the new Photos app as I now have a Aperture and Photos library which I understand share the same space). Insight appreciated!