If you’ve since tried to downgrade your iTunes beta back to a publicly released version of iTunes, resulting in the horrible ‘”iTunes Library.itl” cannot be read because it was created by a newer version of iTunes’ error message, don’t succumb to tears just yet; we’ve got a fix that might just work.
Save the precious iTunes library that you’ve spent hours upon hours massaging to perfection, and tune in to the following video tutorial…
How to Downgrade iTunes and Save Your iTunes Library
Step 1: Uninstall new version of iTunes, and install previous version.
Step 2: Navigate to your Home folder and go to the Music/iTunes/ primary folder.
Step 3: Locate ‘iTunes Library.itl’, and rename it to ‘iTunes Library.old’.
Step 4: Navigate to the ‘Previous iTunes Libraries’ folder, and locate the most recent library file, e.g. ‘iTunes Library 2011-09-21′. This is the most recent backup of your iTunes library file. [Note: if you've used the new version of iTunes for some time, you may need to use an older backup file. Try the most recent first, and if it doesn't work, try the second most recent, etc.]
Step 5: Copy the most recent backup of your iTunes library file, and paste it in the Music/iTunes primary folder. Next, rename the backup file to ‘iTunes Library.itl’.
Step 6: Open iTunes, and your library should be back to normal prior to the iTunes upgrade.
If you’re considering downgrading your copy of iTunes, I highly advise you to watch the video to see how simple this is. Always be sure to back up any files you modify.
Was this able to help you? If so, please let me know in the comments section below.