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Normalizing clip levels is all about how loud the audio will be. When you normalize, you adjust the audio signal’s gain so that the clip reaches a chosen target—either a specific peak level or a target loudness. That directly changes the volume, making the audio louder or softer to achieve consistency across clips. It doesn’t alter the frame rate or color grading, and while the waveform display may reflect the new levels, the operation itself is about adjusting loudness, not visuals or timing.