Social media posts can be a helpful tool or destructive force for businesses. In some cases, social media blunders can end up costing millions of dollars. Take for example the recent tweet made by the director of the recent “Fantastic Four” movie, where he strongly criticized Fox, the studio responsible for producing the movie. Director Josh Trank posted, “A year ago I had a fantastic version of this. And it would’ve received great reviews. You’ll probably never see it. That’s reality though.”
The movie was expected to make $40 million its opening weekend, but only pulled in $26.2 million. Box office analysts suspect the tweet may have cost $5 to $10 million in ticket sales. The movie cost a reported $120 million to make, and Fox has reportedly refused to rule out a sequel.
It is possible the director violated his contract by posting derogatory comments about the movie.
Why Are Contract Agreements Important For Businesses?
A contract agreement can be extremely important for protecting information important to the image of a business. In the example of a poor movie review from the director of “Fantastic Four”, his tweet was possibly a comment that would need to be cleared by Fox, the studio responsible for producing the movie. Fox possibly lost millions due to an unapproved tweet.
Business litigation attorneys can help defend contractual obligations and confidential information. Parties who cost businesses money by breaching contracts and releasing confidential information can be held accountable.
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