Music producers Timbaland and Swizz Beatz have settled a $28 million lawsuit with social media video platform Triller. After the release of the popular “Verzuz” series.
of hit streaming rap battle showCreated by two hip-hop producers in 2020, pits music artists against each other in the form of freestyle rap.
Swizz Beetz, whose real name is Kassim Dean, and Timbaland, whose real name is Timothy Mosley, have agreed to sell the rights to the series to TikTok rival Triller in January 2021.
However, after the sale transaction, the two claimed the company, founded by investor Ryan Kavanaugh in 2015, defaulted on the deal after just two payments.
The specific terms of the settlement were not immediately clear.
“Verzuz has always been a platform by artists, for artists, and for people,” Swizz Beatz and Timbaland said in a statement. according to variety.
“We are delighted to have reached an amicable agreement with Triller to continue providing our fans with the music and community that they have come to know and love about our brand.”
After news of the lawsuit broke in August, Triller told the Post that the lawsuit was “genuinely unfortunate” and that he hoped “to resolve this amicably and quickly.”
“We hope this is just a misunderstanding by our lawyers,” the company said. “I don’t want to expose my dirty laundry to the press, but I paid Swizz and Tim millions of dollars in cash and inventory.”
Triller said, “To date, no one has benefited as much from Triller. Thriller has taken VERZUZ to new heights and has become a global cultural phenomenon today.
“If we are forced to defend it, we are not optimistic about the truth and facts, we are on our side.”
Swizz Beatz, who is married to singer Alicia Keys, joined forces with Timbaland in the early stages of the COVID-19 pandemic to bring “Verzuz” to life.
The pair went head-to-head in a rap battle in March 2020, igniting tremendous interest in the show and later seeing some of rap’s biggest names take the stage.
John Legend, Keys, 2 Chainz, Rick Ross, Too $hort, Patti LaBelle, and Gucci Mane are just a few of the big names who have joined the series.