There are a lot if indicators that point to the fact that the studio business is a tough place to stay alive.
If you read Billboard, Mix, or some of the other professional trades that deal with the studio business, they’ll tell you that studios are closing up shop left and right and those spaces are being turned into condos. Yeowch! Priorities, eh?
Anyway, the recording studio business has never been easy, and it’s being made a lot tougher on studio owners that aren’t very business savvy and those that try to cling on to the way they did business ten or fifteen years ago.
My research shows that at least SOME studio owners are charging less for their services as a way to stay competitive in the marketplace. How bad of an idea is that? With the increased cost of doing business (employee salary/wages, rent) there’s no way you’re going to stay in business if you continually charge LESS money over time. May work in the short term, but that’s not an effective long-term strategy for success. And, once you DO start to charge less money, when you try to increase your rates, all your clients are gonna grumble and complain about how much it costs to record at your facility.
So, my challenge to you is this:
What can we do as an industry to keep ourselves alive (a la Queen)? I think it’s going to take some pretty innovative thinking. It looks like the people that are out there making a real go of it are doing something creative and unique. I’m not sure of the right answer(s), but I have my thoughts… How about you?