Swizz Beatz and Timbaland have reached an “amicable agreement” and settled their lawsuit with Triller after suing the platform last month for $28 million in unpaid royalties from the sale of Verzuz.
The heavyweight producers garnered support from their peers, including Diddy and Styles P over their dispute. They took Triller to court, claiming the social media platform owes them more than $28 million after defaulting on the terms of the Verzuz sale agreement. Triller acquired the platform created by Swizz Beatz and Timbaland in January 2021 for an undisclosed sum.
However, as first reported by Variety, the parties have settled the $28 million lawsuit.
“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” Swizz Beatz and Timbaland said in a 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.”
While neither party revealed the financial details of the settlement, Triller’s executive chairman and co-founder Bobby Sarnevesht said in a statement, “VERZUZ and Triller will always be a safe place and outlet for creators and their art. Nothing will change that. 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.”
Swizz Beatz and Timbaland launched Verzuz in March 2020 during the COVID-19 pandemic. They found a way to connect artists with their fans and delivered head-to-head battles featuring R&B and Hip Hop stars. The clashes began in a virtual format before eventually moving to in-person live events. Among the highlights was the iconic The Lox vs. Dipset clash at the Hulu Theater at Madison Square Garden.