Home recording is widely practiced by voice actors, narrators, singers, musicians, podcast hosts, and documentary makers at all levels of success.
The cost of professional audio equipment has dropped steadily as technology advances during the 21st century, while information about recording techniques has become easily available online.
Due to their high price and specialized nature, reel-to-reel machines were only practical for professional studios and wealthy artists.
The advancements in such technology along with the moderate to low budgets of up-and-coming and even established artists have put many commercial studios out of business.
Maureen Droney, senior director of the Recording Academy's Producers & Engineers Wing, spoke to the Los Angeles Times and reflected on what the recording studios have come to be in today's music industry with the following statement: "In some ways we've come full circle ... We've gone back to being small and entrepreneurial.