Library shot is stock footage that is used as a shot or image for a film or production, but which was not created specifically for the film in which it is used.
History
Many television shows, most notoriously the police shows, hire employees to scan all film footage from all shows to find images for the library shot collection. This way, they can say that all filming was done live on police duty, even though it may have been from a totally different instance. For example, an image of drugs or guns from one filming of a cop show can be repeatedly used in other episodes, to imply larger amounts of drugs or bigger guns.