Stems and EQ in Playlists
EQ and stem settings in the playlist Audio panel apply uniformly to playlist playback without changing the corresponding project workspace settings.
Stems
Each of the four stems has volume, mute, solo, and Pan. Expand a stem to adjust pan and per-stem Mono. See Mute and Solo and Pan Stems.
Settings apply only to tracks with stems. For a track without them, the player uses its original mix while retaining the stem settings for the next track that has stems.
For an entire playlist of vocal-free or drum-free backing tracks, separate and save each track in project mode first.
EQ
The seven bands are the same as project mode and persist between tracks. Make small adjustments together with stem mixing; see EQ.
Save your stem and EQ settings as audio presets.