Waves Studio Rack was originally released back in 2014 and has been recently updated with some fresh new features. You also get this for free, and unlike previous versions of Studio Rack, which only allowed you to load in Waves plugins, the new version of Studio Rack allows you to load any of your favourite third-party VST3 plugins.
Using Studio Racks is an approach used by a lot of engineers and producers, where they process various instruments as chains. Creating various chains allows engineers to have unique control over the sound, and it also works well ergonomically as it organises all your plugins into a single plugin window.
When you open an instance of the Studio Rack, you get a Trim Knob along with a Phase Switch which allows you to control the Input Signal. You then get 8 slots where you can open Wave and now 3rd party VST3 plugins. To the right you get a main Volume Fader and a Gain Reduction Visual Meter.
The 8 Slots can be used to open your plugins in two main modes,Parallel Split and Multi-Band Split
PARALLEL SPLIT MODE
With Parallel Split Mode, you can add a dry signal to multiple processed signals within the studio rack. In Studio Rack, you get to add eight slots. For example, if you're trying to create a vocal chain You can have one slot for EQ, one for compression, one for saturation, and one for delay and reverb.
You can now blend all these effects with your dry, unprocessed signal using the individual volume faders given for each slot. With individual PAN options on the slots, you also get the flexibility to place various effects within your stereo spectrum.
With Studio Rack, you also get the option to use it in stereo and normal pan modes for every slot, giving you more flexibility to pan your effects. along with the ability to process your signal in stereo, left, right, mid, and sides.
MULTI-BAND SPLIT MODE
In this mode, it turns any of your favourite plugins into a Multi-Band Split. Each instance can be split into five frequency bands. You can open up your favourite compressor or saturation plugin on any of these or all of the available 5 bands and treat your plugin as a multi-band plugin, or you can have a compressor controlling one band of frequencies, saturation on another band, and so on, giving you a lot of control over your sound. You also get volume and panning options for each band.
The Macro Mode is a great way to assign various knobs to control various parameters of your plugin. You get eight macro controls to combine different parameters on your plugin, allowing you to create your own "custom plugins."
With the new updated version of Studio Rack, you get Easy Plugin Search and Floating Plugin Windows. If you plan to collaborate with musicians and producers who use different DAWs, StudioRack allows you to save entire chains with their internal routings and open them in any DAW.