World Picture Network discontinued its daily photo feed as of Feb. 1 in an effort to modify its strategy in the crowded photo distribution industry. The company will, instead, focus its resources on its growing photo assignment business.

While layoffs at WpN are imminent, the network will also add editors to manage the market demand for assignments to its freelance photographers.

WpN's photo feed featured daily coverage of the world's events. CEO Brian Miller said that the service was "not economically viable" given the state of the industry. Miller also noted that assignments are the company's most rapidly growing segment, with revenues growing by 70 percent under the leadership of senior assignment editor Todd Cross.

Founded by Seamus Conlan and Tara Farrell in 2001, the firm moved its headquarters from London to New York in 2004. WpN will continue to maintain its archive, which is searchable via its website and also through Lexis Nexis.