Timbaland and Swizz Beatz are suing Triller, a short-form music video app, for $28 million for breach of contract after the app bought the duo’s live streaming music platform Verzuz. According to the Washington Post, the lawsuit was filed on Tuesday, August 16, in Los Angeles Superior Court. Lawyers for Timbaland and Swizz Beatz claim that Triller has ignored the payment demands and has already breached them.
According to the complaint, the couple was paid in January and April of last year, but the payments were due in January of this year and are still pending. Despite the fact that all parties agreed to a new payment arrangement, the money did not arrive on time. Meanwhile, representatives for Triller, Swizz Beatz and Timbaland have yet to respond. Swizz Beatz and Timbaland claimed that a percentage of their shares would be distributed to Verzuz’s artists such as DMX, Jeezy, Gucci Mane, Gladys Knight and others.
This quote is funny because the prevailing argument is that Verzuz went downhill when he “partnered” with Triller. It gives off a big “come to class on group presentation day” vibe. pic.twitter.com/xgAoILlKQX
— Justin Tinsley (@JustinTinsley) August 17, 2022
Triller paid a significant price for Verzuz.
Triller announced in 2021 that it will buy Verzuz for an undisclosed amount. It also signaled the end of their partnership with Apple Music. Under the deal, Timbaland and Swizz Beatz would join Triller’s management team and become shareholders of Triller Network. It will provide a portion of its equity investment to 43 musicians associated with Verzuza, allowing them to continue their work in the music business.
Although details of the transaction were not released at the time, it was later revealed to be in the eight-figure range. It had to be paid in installments, with the first due at closing, then another and two more on the first and second anniversaries of the transaction.
While Triller failed to make the payments, a new deal was struck in which Triller agreed to pay $9 million by March 17 and $500,000 to Timbaland and Swizz Beatz separately over the next ten months. Triller still hasn’t paid, and after being served with a warning, they didn’t respond. Timbaland and Swizz Beatz are suing Triller for $28,095,000 in damages, as well as legal fees and costs and pre-judgment interest.
As for Thriller and Verzuz
Triller is a social networking site where users can create and share short films, including those that are set or automatically linked to music using artificial technology. Released in 2015, the program was first used primarily for video editing before evolving into a social networking platform. Thriller rose to prominence in India when TikTok was banned and subsequently distributed pay-per-view boxing events.
Timbaland and Swizz Beatz produced the webcast series Verzuz. It debuted during the COVID-19 outbreak, when the pair competed in a DJ duel on Instagram Live. Timbaland and Swizz Beatz’s live streaming rap battle program has become a successful series, with several high-profile musicians such as John Legend, 2 Chainz, Alicia Keys and more appearing on the show.
Categories: Entertaintment
Source: HIS Education