Folio Closes Doors

Posted on 10/8/2007 by Jim Pickerell | Printable Version | Comments (0)

The regional, rights managed stock agency Folio, based in Washington, D.C., has closed its doors after 20 years, citing “significant competitive changes” resulting from the proliferation of RF and Microstock sources.

Folio’s business model focused on a tightly edited collection; long-term, strong client relationships; exceptional inventory and a unique niche, searchable Web site. However, the owner, Susan Soroko, found that these features, and cost-cutting measures, were no match for the extensive array of images available for under $10. Folio also discovered that many of its photographers were submitting their images to RF and Microstock providers, eliminating much of the competitive advantage an RM seller might have had.

In an effort to keep the business going, and continue paying photographers their full royalties, Soroko operated the company for the past year without receiving any salary.


Copyright © 2007 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-251-0720, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of www.selling-stock.com, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to: http://www.jimpickerell.com/Curriculum-Vitae.aspx.  

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