Why you should be paying attention to your stock photos
It’s not just stock photography that’s under threat.
Photo studio and photographer Delio Photo Studio is planning to shutter its doors in 2017 and sell off its inventory of digital images.
The Los Angeles-based photo studio has about 400 employees, and a lot of the company’s stock has been sold off, said company president Steve Smith.
That includes its digital stock portfolio, which includes products for sale on the web.
The company was one of several large companies to sell their stock in recent years, according to The Wall Street Journal.
But Smith said he expects the end of the business to be a slow and gradual process.
Photo studio’s stock fell to about $3 a share on Friday, down from its record high of $5.16 in February. “
There’s a lot to be desired out there, and the stock market has a tendency to do that.”
Photo studio’s stock fell to about $3 a share on Friday, down from its record high of $5.16 in February.
The stock is down about 10% over the past year.
The company has about 2,300 stock photos on its website, and about 100,000 of them are sold each day, Smith said.
“In the last year, we’ve seen a lot more stock being purchased, so it’s definitely a lot faster than we’ve been able to do,” he said.
Delio will be shutting down its website on Jan. 2.
Delio Photo has also been selling some of its digital portfolio to other companies, but not all of them.
Smith said the business was a net loss in 2014.
He expects to have the company in a net positive balance by the end.
“When you have a business that’s in a long-lasting negative balance, you don’t have the ability to make any money,” he told ABC News.
“If you’re in a positive balance, the bottom line is we’re going to be fine.”
Smith said that when he looked at the stock of a company like Amazon, he would think about the potential for the company to survive.
He said that in Amazon’s case, the company could keep making money as long as it kept creating new products.
“You have to look at that from an economic standpoint and a business standpoint,” Smith said, “and look at the potential to get more products.
We’re still looking at that and we’re not there yet.”