Why was Verzuz sold? Timbaland and Swizz Beatz are suing Triller for $28 million.
Timbaland and Swizz Beatz are suing Triller, an abbreviated music video app, for $28 million for breach of contract after the app bought the duo’s live music platform Verzuz.
According to the Washington Post, the case was submitted on Tuesday, August 16 in Los Angeles Superior Court. Legal representatives for Timbaland and Swizz Beatz say Triller has denied their demands for payment and is now in default.
The lawsuit claims that although the pair received payments in January and April of last year, those due in January of this year remain unpaid. Payments were further delayed even after the two sides agreed on a new payment arrangement. Representatives for Timbaland, Swizz Beatz and Triller have yet to comment.
Swizz Beatz and Timbaland
Although details of the deal were not made public at the time, it was recently revealed that it involved an eight-figure sum. The first payment was to be made at closing, followed by two more on the first and second anniversaries of the transaction, and finally four in total.
Despite Triller’s default, a new contract was drafted which required Triller to pay $9 million by March 17 and $500,000 each to Timbaland and Swizz Beatz over the following ten months. Triller still hasn’t paid anything, and after receiving a notification, they haven’t responded.
Timbaland and Swizz Beatz reportedly sued Triller for $28,095,000 in compensatory damages, plus costs, fees and prejudgment interest.
About Triller and Verzuz
Triller is a social networking site where users can create and share short films, including those that are synced to or set to music using artificial technology.
The 2015 program was initially primarily used for video editing, but gradually evolved into a social networking platform. Following the ban on TikTok, Triller in particular rose to fame in India and later gave out pay-per-view boxing matches.
Timbaland and Swizz Beatz are the creators of the Verzuz webcast series. It was introduced when the duo competed in a DJ duel on Instagram Live during the COVID-19 outbreak.
The live rap battle program hosted by Timbaland and Swizz Beatz has become a much-loved series, featuring many well-known artists like John Legend, 2 Chainz, Alicia Keys and many more.
