For Mac App Store users, you will find Boom 3D window on launch, here you will find a text mentioning "Drag and drop a song to play (Please refer screenshot below).
Once you drag a song with the format provided. The Boom 3D player option activates for that particular song.
Here, if you click on the "Experience More" button, you will be directed to download the audio component.
Download and install the Boom 3D audio component.
Please install the component and you can see the SYSTEM WIDE EQ, VOLUME BOOSTING and 3D functionality.