Timbaland and Swizz Beatz settle a $28 million lawsuit with Triller – Rolling Stone

Swizz Beatz and Timbaland settled a $28 million lawsuit with Triller Thursday, a month after allegations the short video service failed to make payments after it purchased Verzuz’s music streaming software.

“Verzuz has always been a platform for artists and for the people,” Swizz Beatz and Timbaland said in a statement. “We are pleased to have reached an amicable agreement with Triller and continue to give fans the music and community they have come to know and love from the brand.”

Talking to rolling rock After leveling, Swizz took on a slightly more assertive tone. Were you ready to go to war? yes. Did you get used to it? I’m from the South Bronx. But I had to get rid of my feelings. “There was a lot of determination for me to lock this whole thing up in the bar’s box.”

Will Virgos return? “Yes, it’s harder than we’ve ever gone,” he adds.

“VERZUZ and Triller will always be a safe place and outlet for creators and their arts. It won’t change anything,” CEO and co-founder Bobby Sarnecht said in a statement. “This content creator has started and will continue to build it. This is a triumphant moment in the Triller and VERZUZ relationship as we walk together into the public markets.

“At the end of the day, just like any Thanksgiving or family gathering, there are disagreements, but like any good family, we all forgive each other in the end and come back stronger than ever,” Sarnevist adds. “The Triller Verzuz family is as strong as ever. We’re glad we put this feud behind us and couldn’t be more excited for the next chapter.”

Swizz and Timbaland, whose real name is Kaseem Daoud Dean and Timothy Mosley, started Verzuz at the start of the pandemic in 2020 as a casual show during lockdown, but has grown rapidly, turning into a dedicated media company that includes the likes of Jeezy, Gucci Mane, Ludacris, Nelly, Alicia Keys and John Legend and many other major artists, attracting millions of views and rising artist streams. Triller bought Verzuz in 2021 for an undisclosed amount, although after Mosley and Dean filed the $28 million lawsuit, Triller stated that the company had already paid the two “more than $50 million in cash and inventory.”

According to the announcement, as part of the settlement, the two producers receive an unspecified increased ownership stake.

As Sarnevesht’s statement notes, Triller is currently preparing to launch an IPO, which came after the failure of SPAC’s previously planned merger with video and advertising company SeaChange. The Wrap reported that the initial public offering is expected sometime in the fourth fiscal quarter.

The settlement with Swizz and Timbaland is a deferment for Triller, which is currently dealing with several other lawsuits, including a recent one from Sony Music Entertainment that claims Triller owes the company millions in unpaid licensing fees for its music. Regarding Sony’s lawsuit, Trailer said he was “surprised by this submission and believes it may be related to the Virgos dispute. We are confident that these issues can be resolved quickly.”

Beyond the lawsuit with Sony, an investigation From Washington Post Last month it highlighted allegations by dozens of black content creators that Triller had struck deals with them previously, claiming they weren’t getting paid either. In a statement to Mail, Mahi de Silva, CEO of Triller, denied the allegations and said Triller “has fulfilled its financial obligations to the creators of this program and will continue to do so.”

Additional reporting by Noah Shachtman

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