A music producer does not have to attend a university in order to fully educate herself on the workings of her profession. Many music producers, like Phil Spector and Brian Eno, received no formal education in music production, learning the process on their own, and went on to successful careers. A proper education, however, can offer a prospective music producer access to state-of-the-art recording facilities, and networking possibilities that a non-formal education may not be able to offer.
A music producer needs to facilitate the recording process of each artist he works with, producing quality material to gain a quality reputation. For this reason, a music producer needs to have some understanding of music theory, whether taught at a university or by listening to and intuitively understanding what notes work with what chords, what harmonies work with what melodies, etc. Music producers need to know when a note in a guitar solo clashes with chords played by a rhythm guitar, for example. Many music producers also make a living by writing songs themselves, so having an education in music theory will help a music producer write his own songs.
Like other fields within the music industry, success in music production calls for proper etiquette with other professionals and solid networking skills. A music producer needs an education in the workings of the music industry. For example, music producers needs to know how to talk to music attorneys, record labels, artists, and any others involved in the production and sale of music. A music producer needs to know copyright laws in order to protect any songs. She also needs to be up to date on music technology in order to compete with other studios.
A music producer with all the music theory knowledge and connections in the world is useless if he can't handle himself behind a recording console. A music producer needs to know how to use sounds boards, mixing equipment, recording software like ProTools or Sonar, compressors, microphones and all other equipment involved in the recording and production of music. Whether at a music school recording facility, or simply by sitting in on recording sessions for fun, a music producer needs first-hand experience with running this equipment.
Music producers need to be aware of instruments used in the studio and the way in which they interact with one another. For this reason, some schools that offer music production degrees require students to learn how to play a musical instrument. Many music producers are musicians themselves, and bring their technical knowledge and performing abilities with them to enhance their skills in the studio. So, whether through formal lessons or simply studying popular music instruments, knowledge of music instruments is part of any successful music producer's education.