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I record 3 audio layers in my mp4s via OBS. When i come to edit the videos afterwards i can only extract layer 1 on elements. Is the program not able to see the other two audio levels, or am i just not looking in the right direction?
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Non-camcorder software often plays by a different set of rules.
Premiere Elements can edit stereo and 5.1 audio on video. I don't know that it can parse several separate tracks of video on a single video clip.