Fifteen years ago, if you wanted a good recording, you wouldn't even think about asking this question. You'd know the only answer for getting a good recording would be to go to a studio. But over the last decade in a half, it has become increasingly easier to make quality recordings yourself.
These days, this is a question almost every musician asks themselves. And if you're a musician and YOU'RE NOT ASKING YOURSELF THIS QUESTION, you better start.
Making absolutely great sounding home recordings is finally possible. And it's even easier and cheaper than most people are aware. With the right information and guidance, it's easy to get the right gear, cheap to buy it, and simple to operate it and make ideal recordings.
As a musician myself, I know how important it is to retain artistic control over my music. And recording my self is the best way to do. I don't have to worry about time and money constraints like I would if I went to a studio where I was paying the typical rates of $35-80 per hour. Not only that, I don't have to worry about some guy who doesn't even listen to my type of music destroying my mix, trying to make my song sound like his favorite style of music.
Once you take the time to understand modern recording, you'll quickly see why going to a recording studio is probably NOT A GOOD OPTION for most musicians.
If you're a singer/songwriter, rapper, or beat-maker, then you'll almost definitely be wasting your time and money.
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