I could write volumes about the training required to become a music producer, but I'm only going to focus on a limited area of study for the folks who just want to get their feet wet. You don't need a college degree to get a basic understanding of music production, but formal studies in music production and audio engineering wouldn't hurt either.
Many successful producers in this business have little or no formal musical training, but they do have the desire and determination to learn everything they need to know to get the job done. Today's music producers must have exceptional abilities in the musical, technological, AND business aspects of the recording industry. I'm only going to focus on the technological field of study that will bring you the most benefit as an introduction to basic music production.
I'm first going to assume that you have a good working knowledge of music. This doesn't require that you have the ability to read music, but just that you have a good grasp on the basic principles of rhythm, melody, harmony, and song structure. If you don't have the desire to learn this, then just stop reading now, and don't waste another moment of your life on this dream. A producer is like a conductor of an orchestra; he understands each individual part, and also has an understanding of how that single part relates to the whole composition. This is the foundation on which everything else is built; and with that being said, I'll now introduce you to the area of study which I think is necessary for any aspiring music producer.
The technological advances of multimedia PC technology have opened many doors for music producers and recording artists. There are a variety of low-cost digital music production suites available that can be used for creating professional quality recordings right in the comfort of your own home. The complexity of the editing and effects processing features, allow even rookie producers to create mixes that are pleasing to the ear. A vast number of professional producers use these same systems to complete pre-production mixes before taking their project to commercial recording studios. Many of these programs can produce high quality audio that is acceptable for use in broadcasting and many other commercial uses.
Cakewalk, Nuendo, Pro Tools Express, Garage Band and Logic Pro 7 are just a few of these programs that are available for those owning a home computer. These programs range from approximately $50 to around $600, and whether you own a Mac or a PC, you can find affordable choices with either platform to suit your needs. Of the programs I just listed, Cakewalk is the probably the most affordable option available for PC owners. I recommend that you try their entry-level software first, and then upgrade as you gain interest and experience. The minimum components of an affordable home studio are as follows:
1) PC or Mac computer w/minimum required specs
2) Digital Recording Software w/ *digital interface
(*A/D > D/A converter interface is needed to record/playback digital audio)
3) An electronic keyboard with MIDI capability for composing basic tracks.
4) Quality studio monitors for playback of your audio.(speakers) I'd recommend powered monitors to begin with. Best Buy has a pair of small M-Audio studio monitors for about $129 which are pretty good quality for the money.
Most music equipment retailers can guide you through the specific details of designing a system which is both affordable and expandable. Learning and using a system like this will definitely influence your decision to pursue this dream any further. Only by exposing yourself to the "tools of the trade" will you know if you have the time, talent, and patience to pursue a career in music production. All great producers have a working knowledge of skills used by audio engineers, and Digital Recording Programs will definitely "get your feet wet" in this area of expertise.
I also recommend sitting in on as many recording sessions possible in commercial recording studios around town. This is a great way to pick up knowledge and experience from those already making a living in this business. They can help you decide if formal schooling or technical training in this field may be beneficial to your career. Formal internships at recording studios can also lead to possible job placement at those studios.
I'm a Nashville songwriter/composer(BMI) who's spent most of my life perfecting my craft, and I still have a lot to learn. I work as a producer, writer, arranger, vocalist, and multi-instrumentalist, and I'm able to complete entire musical productions from start to finish on my own. Even with those skills, I still have to work incredibly hard to stay competitive in this industry. If you love creating and recording music as much as I do, and you're willing to put in the hard work, then maybe you're ready to build an exciting and fulfilling career in music production.