You are right in saying that the costs of studio time and equipment is very expensive. However, you have it is much less expensive nowadays. Before, artists had no choice but to record in a studio for preproduction, production and postproduction. Now, often, the preproduction is made in a small project studio, then the recording done in a pro recording studio and post is shared between both. This reduced costs enormously.
Oh! And one more thing! The costs of studio time and equipment is the artist's responsibility. The company only advances the money and the artist pays it back to them directly off their royalties. So if someone should complain, it should be the artists, not the record companies. But I don't see the artists complaining;)
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You are right in saying that the costs of studio time and equipment is very expensive. However, you have it is much less expensive nowadays. Before, artists had no choice but to record in a studio for preproduction, production and postproduction. Now, often, the preproduction is made in a small project studio, then the recording done in a pro recording studio and post is shared between both. This reduced costs enormously. Oh! And one more thing! The costs of studio time and equipment is the artist's responsibility. The company only advances the money and the artist pays it back to them directly off their royalties. So if someone should complain, it should be the artists, not the record companies. But I don't see the artists complaining ;)