Libretime's media library is inside the /srv/airtime/stor/ folder on your server, by default.
Edits to your stored media files are noticed by Libretime. If you edit any file known to the database and change its duration, Libretime will automatically adjust the duration of playlists, smart blocks and shows that the file is included in. If you edit the metadata tags of a file, Libretime will automatically update the database with the new information. This may invalidate existing playlists or smart blocks that the file is part of. For example, if you use 'genre' as a search criteria to create a playlist or smart block and then edit the 'genre' tag for a file, that file may no longer match the original search criteria. A playlist or static smart block would still have an entry for the original file if either of these items was created before you modified the tag of the file in question.