Did you know that Facebook now has more than 1.3 billion monthly active users? (By contrast, the entire population of the United States is 317 million people.) Or that 72% of online adults visit Facebook at least once a month? And that more than 350 million photographs are posted to Facebook each day? Or that Twitter users are expected to send more than 182 billion tweets during 2014? And that more than six billion hours of video are viewed each month on YouTube, almost an hour for every person on Earth?
Facebook, Twitter, LinkedIn, YouTube, Google+, Foursquare, Tumblr, Pinterest, Snapchat and other social media sites are transforming not only the daily lives of consumers, but also how companies interact with consumers. Indeed, even the largest, most conservative blue-chip corporations have embraced social media; one study revealed that, of the Fortune Global 100, 82% had Twitter accounts; 74% had a presence on Facebook; and 79% had a YouTube channel; these numbers will only increase over time. Indeed, many marketing professionals view social media as the single greatest marketing tool to have emerged in this century.
However, along with the exciting new marketing opportunities presented by social media comes challenging new legal issues. In seeking to capitalize on the social media gold rush, is your company taking the time to identify and address the attendant legal risks? The good news is that, merely by undertaking simple, low-cost precautions, companies seeking to use social media can significantly reduce their potential liability exposure.
Practitioners, regulators and industry leaders will explore the cutting-edge legal concerns emerging from social media, and provide practical solutions and real-world insights to assist you in tackling these concerns.
WilmerHale Partner Reed Freeman will be speaking during the panel "Social Media, Mobile Apps and the Emerging Regulatory Landscape."