You correctly created a new Music Library. Your old Library is still where it should be--don't panic, you just access it by holding down the option key while starting up iTunes. The same dialog that allowed you to create a new library will now allow you to choose between the two libraries you have.

Your new library is currently blank (or nearly so). Set your preferences in iTunes so that when you import music you do it as AIFF. If you want to take your old library and convert it entirely or selectively to AIFF format that is another thing altogether.


On a Mac since 1984.
Currently: 24" M1 iMac, M2 Pro Mac mini with 27" BenQ monitor, M2 Macbook Air, MacOS 14.x; iPhones, iPods (yes, still) and iPads.