Here is a good article by experienced web designer Eugen Oprea exploring why the importance of 'the fold' in web design is often over stated, or misplaced.
This is a common mis-conception in web design, as the article explains. Received wisdom is that there isn’t actually a definable ‘fold’ on screen as elements like browser sizes and screen resolutions vary greatly across devices. It is also the case that users are most comfortable scrolling pages, rather than navigating between them.
When you begin to consider the layout of your site, achieved through wireframing during the design process, placement of components is vital. This post illustrates that contrary to popular belief certain elements like Calls to Action (CTA’s) or premium advertising are not always best positioned at the top of the page ("above the fold"). Anlytics and testing support placement further down the page, where user engagement and consequent conversion rates are much higher.
Interesting food for thought when considering site layout.