Earnings: Jupitermedia’s Q2 Drops Sharply; Buys RoyaltyFreeMusic.com

Tech trade and image media company Jupitermedia has seen a sharp drop in its Q2 earnings: net income fell to $2.4 million from $7 million in the year-ago period. The latest period included a loss of $718,000 from the sale of the company’s research business (to Kagan), which was accounted for as discontinued operations. Revenue rose to $35 million from $29.1 million last year.
Also, the company continues on its acquisition spree: it has bought the assets of RoyaltyFreeMusic.com, including its music library, which includes over 1,100 wholly-owned tracks of royalty free themes, underscores, voiceovers, beats, loops and bumpers. Terms of the acquisition were not disclosed. This announcement follows Jupitermedia’s prior music-related acquisitions of the Steve Shapiro Music Library in April, 2006, Crank City Music in March, 2006 and BBM.net in December, 2005. More details in this release here.

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