There is no doubt that the cost of putting together a recording of reasonable quality in the home has been dropping dramatically. This is a big help on the way to a new model of doing business. But one must consider that many musicians are not trained, interested or technically savvy enough to do a good job at recording themselves. There is so much involved that knowing how to do it right is a career in itself. Also, it helps to have a second pair of professional ears to help get the sound right. Many home studios can’t supply properly treated rooms for good recording like a pro studio can. Currently, the best way may be to record basic tracks at home, and then do the sweetening, mixing and mastering in professional facilities.
As for cost, it varies dramatically. I've seen studio costs to record an album vary from $5,000 to $30,000, and it can go much, much higher. I’ve seen a lot of studios that charge around $500.00 a day, and these aren’t necessarily world class. It also depends on the kind of music you are recording. I have at least $30,000.00 invested in my humble little studio, but you can get a reasonable start for a lot less. And I’m sure you know that 1 hour of studio time doesn’t equal 1 hour of recorded music. Even though I work fast, it’s not uncommon for me to invest 40 hours of studio time into a piece of music that is 8 minutes long. And when it comes to producing a professional video, the cost can go through the roof.
There will always be those rare artists who can do everything themselves. But so many other good artists will be excluded. That’s why I proposed the co-op idea so artists can share resources and knowledge. I’m with you 100% on moving away from the current model of doing business, but the recording companies still play a valuable role and we need to find a replacement for that, because if you read
this you can see what pigs they are.
I’ve posted this video before, but it really shows what you miss when recording a self-produced album at home. You can also see the time that goes into producing world class recordings, and the producer’s knowledge is invaluable to this particular artist. I doubt she would get the same results doing this herself at home.
Knowledge may be a much bigger factor than cost, but both are part of the reality of doing your own recording.