Entertainment

Swizz Beatz and Timbaland reach settlement with Thriller in lawsuit over Verzuz payment


Swizz Beatz When Timbaland settled a lawsuit against thrillerafter suing the service for $28 million last month, the amount they claimed was Verzuz Service started in March 2021.

The specific terms of the settlement weren’t disclosed in the announcement late Thursday, but “the settlement provides ownership rights to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal. It was promised that it would increase.

More from Variety

“Verzuz has always been a platform by artists, for artists, and for people,” Swizz Beatz and Timbaland said in a statement. We’re excited to continue providing our fans with the music and community we’ve come to love.”

“Verzuz and Triller will always remain a safe haven and outlet for creators and their art. rice field. “Nothing will change that. The creators started this and continue to build. .”

Related video: The evolution of rap battles and the “Verzuz” effect

of filed in August From the two producers who launched the popular Verzuz virtual battle series on Instagram Live in March 2020, sold to a trailer About a year later, on undisclosed terms. Swizz Beatz and Timbaland (real names: Kassim Dowd Dean and Timothy Mosley) received shares in the sale along with his 43 artists who participated in the program. Their lawsuit alleges that Triller this year did not pay his two large sums in January, and that the services he paid a total of $18 million in March and $1 million a month thereafter. Claimed to have agreed to a settlement by paying. 10 months — but none of the promised payments were made this year.

At the time of the August lawsuit, a Triller spokesperson said the company had already paid the pair “more than $50 million” in cash and stock so far, and that the pair had reached a threshold for receiving additional compensation. According to Triller, this was at the center of the controversy.

A Triller spokesperson said in August, “It is disappointing that they have chosen to highlight this in the press as a ‘legal adjustment’, and the deliverables, including but not limited to a certain number of Verzuz deliveries, We are ignoring the fact that there is going to be 2022..hopefully this is just an overzealous lawyer flying his gun…weighing all the facts if this goes on in court I look forward to hearing the verdict.

There have been six Verzuz challenges airing so far in 2022, the most recent over two months ago when Luny Tunes and DJ Nelson went head-to-head on July 17th.

In a joint announcement Thursday, “Swizz Beatz and Timbaland are proud of the platform they created with Verzuz and of the acquisition by Triller due to the company’s willingness to celebrate and showcase their artists.”

best of variety

Apply variety newsletterFollow us for the latest news Facebook, twitterWhen Instagram.

Click here to read the full article.



Source link

Show More

Leave a Reply

Your email address will not be published.

Back to top button