iTunes library with multiple user accounts

[GSXRMovistar]

Picked up a new iMac today and this machine whilst being used by me mostly will also be used by my Wife and Daughter. They will have their own user accounts but is there any way of setting up iTunes so each account shares the same library (so when I add new content I don't have to do it for each account)?

 

[uniQ]

As long as they can view the library on a hardrive when logged into there accounts you can hold down the option key when clicking the iTunes icon and then choose the location of the iTunes library.