From KCRW in Santa Monica, I'm Claude Brodesser Ackner, and this is The Business.

So you still want to do the show business, and you think that you got what it takes?

I mean, you really got a rap and be all at, but prepare yourself for the brakes.

Check it out.

This week on the business, why are successful movie directors stooping so low as to work in TV?

Then, the venerable summer metal blowout, known as Ozfest, becomes Free Fest.

And finally, the writer speaks again.

But first, it's the Hollywood News Caravan.

Don't go anywhere.

It's the business from NPR.

Music anywhere. It's the business from NPR. We begin the caravan with dire news from the music business.

UK-based EMI, the world's fourth largest music company, issued its second profit warning in as many months.

As a result of a sharp drop in sales stateside, numbers at EMI's recorded music division are likely to be down 15% when it releases its yearly fiscal results next month. But while a company

is actually doing worse than expected, it's doing better than the music business as a whole.

According to SoundScan, the physical music market declined by 20%. EMI might be a bloodied

prize fighter with a cauliflower ear,

but at least it can proudly say, you should see the other guy.

In related news, 23 overseas mobile phone operators

and most of the major music labels banded together last week

to offer a new cellular music service.

The service, called Music Station,

will be provided by British Mobile Music company Omniphone to 690 million mobile subscribers across Europe and Asia.

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