Timbaland and Swizz Beatz have reached a settlement in their legal battle over the sale of Verzuz. Launched in March of 2020, Verzuz showcased artists, producers, and songwriters as they played their biggest hits side-by-side for their fans via live stream. Verzuz was sold to the video-sharing platform, Triller in January 2021, however, Timbaland and Swizz filed a lawsuit this past August, claiming Triller owed them $28 million.
As of today, the two parties have arrived at a settlement that will increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller in the original deal.
“Verzuz has always been a platform that is by the artists, for the artists and with the people,” said founders Swizz Beatz and Timbaland in a joint statement. “We’re glad to come to an amicable agreement with Triller and continue giving fans the music and community that they’ve come to know and love from the brand.”
Fans can look forward to seeing more Verzuz competitions in the near future from the comfort of their screens.
“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that,” said Bobby Sarnevesht, Executive Chairman and Co-Founder of Triller in a statement. “Creators started this and will continue building it. This is a victorious moment in the Triller and VERZUZ relationship as we march together toward the public markets. Stay tuned.”