I can't tell you how many times I've been editing only to find my storage is full, then looked back at my old libraries and found some of them were hundreds of gigs, or even terabytes. It's a super common problem, especially shooting on high-res cameras. Here's how to shrink those libraries and get your space back.
What's filling up your library
FCP libraries quietly pile up generated media you don't actually need to keep: render files (pre-rendered effects and transitions), optimized media (full ProRes transcodes), and proxy media. None of it is precious, you can always re-render or re-transcode it later, so it's the first thing to clear when space gets tight.
The free, built-in way
Select your library and go to File → Delete Generated Library Files, then check off render, optimized, and proxy media. This isn't destructive, it just clears files Final Cut can recreate on demand. First though, turn off background rendering (Command comma → Playback), otherwise Final Cut just starts regenerating those render files right after you delete them, and render on export instead. One heads-up: only delete optimized media if you still have your original camera files, since that's your fallback. The downside to the manual route is it doesn't clear optical-flow files and it gets time-consuming when you have to open a bunch of libraries.
The way I actually do it
Honestly, the tool I use for this is Library Manager by Arctic Whiteness (not sponsored, just genuinely useful, and it's $37). It shows every library across every drive, even disconnected ones, with a colored bar breaking down exactly what's eating the space, render, proxy, optimized, even optical flow, and it lets me clear over a terabyte across multiple libraries with a couple clicks, without even opening Final Cut. It also lets me make notes, move and duplicate libraries, and dig up an old clip from an archived project and open it right in Finder. For me it's one of the best little investments I've made for Final Cut, but the built-in method above will get you most of the way for free.
Edit faster with my custom shortcuts
Grab my free Final Cut Pro keyboard shortcuts cheat sheet. It's the exact custom setup I use to edit every video, and it'll shave time off every session.
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