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Swizz Beatz & Timbaland Take Further Legal Action Against Triller Amid “Verzuz” Dispute

March 13, 2024 by newhiphopnews

Swizz Beatz and Timbaland are accusing Triller of failing to abide by the terms of their recent settlement agreement regarding Verzuz. In a new filing obtained by AllHipHop, the two are seeking an additional payment of over $565,000 to cover attorney’s fees from Triller. They say the company didn’t honor its $100,000 initial payment and are using an Affidavit of Confession of Judgment to increase the total. Assuming their order succeeds, Triller will owe them $565,000 plus an interest of 9 percent.

In their initial complaint, Swizz and Timbaland claimed Triller agreed to pay them $18 million by March 20, 2022, and then an additional $1 million every month for the subsequent 10 months. They eventually settled on a $28 million agreement.

Swizz Beatz & Timbaland During The BET Hip Hop Awards

ATLANTA, GEORGIA – OCTOBER 03: In this image released on October 10, 2023, Timbaland (L) and Swizz Beatz (R) speak onstage during the BET Hip Hop Awards at Cobb Energy Performing Arts Center on October 3, 2023 in Atlanta, Georgia. (Photo by Aaron J. Thornton/FilmMagic)

“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” Swizz and Timbaland said in a statement at the time. “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.” Bobby Sarnevesht, executive chairman and co-founder of Triller, added: “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 and Timbaland launched Verzuz at the beginning of the COVID-19 pandemic. In the time since, it’s blown up with numerous stars appearing on various episodes including Bone Thugs-N-Harmony, Snoop Dogg, Dipset, Alicia Keys, and many more. Be on the lookout for further updates on Swizz Beatz and Timbaland as well as Verzuz on HotNewHipHop.

[Via]

The post Swizz Beatz & Timbaland Take Further Legal Action Against Triller Amid “Verzuz” Dispute appeared first on HotNewHipHop.

Swizz Beatz & Timbaland Say They Still Own 100% Of “Verzuz”

May 14, 2023 by newhiphopnews

Swizz Beatz and Timbaland say that they still own 100% of Verzuz, despite reports that the two sold a majority of the shares to Triller back in March 2021. The two spoke about the state of the series on Instagram Live, Saturday.

“Verzuz is still 100 percent Black-owned,” Swizz said on the broadcast. “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. Okay? It was built for the people, and it will stay with the people. And we love everybody.”

Swizz Beatz With Timbaland

MIAMI, FL – DECEMBER 4: (L-R) Recording artists Swizz Beatz and Timbaland attend The Dean Collection X BACARDI Untameable House Party on December 4, 2015 in Miami, Florida. (Photo by Frazer Harrison/Getty Images for Bacardi)

As for the news of Triller purchasing majority ownership of the show, it stems from a report from Variety in 2021. The outlet stated that Triller Network acquired the platform while allowing Swizz Beatz and Timbaland to keep hold of some shares of the company and join the Triller management team. They also “allocated part of their equity stake to the 43 performers who’ve appeared on Verzuz to date to help oversee music and other company strategies.”

“There is no more disruptive and innovative brand in music today than Verzuz,” Bobby Sarnevesht, executive chairman and co-owner of Triller, said when announcing the acquisition. “Both Triller and Verzuz share the ‘artist first, music first’ vision. We view this acquisition as more of a partnership than an acquisition, as Swizz, Timbaland and the other 43 artists who are all becoming shareholders and partners in Triller Verzuz from this day forward become our voice.”

Swizz Beatz & Timbaland Discuss “Verzuz”

Things took a turn in September 2022, when The Hollywood Reporter revealed that Swizz and Timbaland settled a lawsuit they filed against Triller’s CEO, Ryan Kavanaugh. They claimed he failed to come through with the $28 million infusion of capital that he was supposed to provide with the acquisition. The outlet also confirmed Kavanaugh’s Proxima Media to be the current majority owner of Verzuz.

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Swizz Beatz Says VERZUZ Has ‘Fantastic Lineup’ of Upcoming Events

February 17, 2023 by newhiphopnews

It’s been a while since we got a VERZUZ battle, but Swizz Beatz let us know that he has some heaters on the way. Speaking with REVOLT, Swizz revealed announcements will be coming soon.

“We’ve been changing the infrastructure because when we started, it happened in the garage and then moved to a significant platform,” Swizz Beats said. “Now, we changed the whole way we’re moving but not entirely, so people won’t feel like it’s not the same.

“We have a fantastic lineup with people they wanted to see and even battles they think wouldn’t happen.”

Could one of those matchups be SoSoDef and Jermaine Dupri? In Oct. 2022, after a preliminary public talk to bring Jermaine Dupri and Diddy to the VERZUZ arena stalled in the summer, the So So Def leader revealed on stage the battle is still happening.

“I’m saying this to let y’all know, the So So Def and Bad Boy VERZUZ is happening,” Dupri said on stage at One Music Fest.

Jermaine Dupri confirms the So So Def Vs Bad Boy Verzuz battle.

Who ya got winning this one?pic.twitter.com/yc5d450BTk

— Old Head Energy (@Cheamane) October 9, 2022

At the end of the summer, Swizz Beatz, Timbaland, and Triller revealed that their legal dispute about the sale of VERZUZ had been resolved.

“VERZUZ has always been a platform that is by the artists, for the artists and with the people,” says founders Swizz Beatz and Timbaland. “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.”

With the settlement, the artists that Timbaland & Swizz Beatz brought to Triller as part of the initial agreement would receive a larger ownership stake.

“VERZUZ and Triller will always be a safe place and outlet for creators and their art. Nothing will change that,” says Bobby Sarnevesht, Executive Chairman & Co-Founder. “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.”

In August, Swizz Beatz and Timbaland sued Triller for their intellectual property to the tune of eight figures. The two top producers contend that Triller, the now well-known social networking service for video sharing, never paid them for their Verzuz concept, which Triller now controls. Triller purchased Verzuz from Swizz and Timbaland back in January 2021, but the agreement fell through when Triller made only two payments, according to the lawsuit obtained by TMZ.

With the new settlement, Timbaland and Swizz Beatz stated they remain proud of the platform they created and the acquisition by Triller to continue to celebrate and showcase artists.

The post Swizz Beatz Says VERZUZ Has ‘Fantastic Lineup’ of Upcoming Events appeared first on The Source.

Triller Is Reportedly Being Sued Yet Again, This Time By Universal Music Publishing For Unpaid Licensing Fees

January 10, 2023 by newhiphopnews

Video content-sharing application and streamer Triller is at the center of yet another lawsuit. This time, it comes via Universal Music Publishing.

After the company’s acquisition of Verzuz, co-founded by music titans Swizz Beatz and Timbaland in March 2021, they have faced several lawsuits. After Triller allegedly defaulted on the deal after two payments, the pair took the company to court in August 2022 to retrieve the remaining $28 million balance. The following month, the parties reached a settlement.

In a joint statement, Swizz and Timbaland said, “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.”

Unfortunately, Triller’s legal woes didn’t stop there. At the same time, Sony Music filed a lawsuit against the company for violating their and the artists signed to their label’s intellectual property rights. In the suit, Sony Music stated after Triller “historically failed to make payments in a timely manner,” representatives for the label attempted to contact Triller but only resulted in “near-total radio silence,” forcing the company to terminate its licensing agreement with Triller on August 8, 2022. But the company refused to take down Sony Music artists’ songs from their library for app users.

Now, according to Rolling Stone, Universal Music Publishing is alleging Triller has “repeatedly failed to deliver on its promises” “despite its contractual obligations.”

Attorneys for Universal Music Publishing list in the suit Triller failed to pay the fifth, sixth, and seventh quarterly installments of the licensing fees totaling $3 million, equating to $1 million per quarter.

Triller has not issued a public statement regarding the matter.

Timbaland And Swizz Beatz Reach A Settlement With Triller Over The Verzuz Acquistion

September 22, 2022 by newhiphopnews

timbaland and swizz beatz summer jam 2018 — Getty Image

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.”

Swizz Beatz and Timbaland Settle Lawsuit With Triller Over ‘Verzuz’ Acquisition Payments

September 22, 2022 by newhiphopnews

Sony Music Is Suing Triller For Allegedly Refusing To Pay Licensing Fees

August 30, 2022 by newhiphopnews

Getty Image

Earlier this month, it was reported that Verzuz founders Swizz Beatz and Timbaland had sued Triller for not making payments after they sold their idea to the video app in 2021. Now, according to Rolling Stone, Triller is being sued by another business partner who says the app’s administrators refused to pay music licensing fees. Sony Music Entertainment has filed suit for millions in damages after Triller allowed users to continue posting videos with music from Sony artists after the label ended its deal with the app.

The lawsuit accuses Triller of “brazen contempt for the intellectual property rights of Sony Music, its artists, and others” after Triller “historically failed to make payments in a timely manner,” then completely stopped making its monthly payments entirely in March. Sony says attempts to contact Triller resulted in “near-total radio silence.” It terminated its licensing agreement on August 8, but despite warning Triller that “its continued use of Sony Music Content would constitute willful copyright infringement,” Triller has continued to make Sony Music artists’ music available for use on the app. The Sony roster includes artists such as Beyonce, Mariah Carey, Michael Jackson, Rosalía, Tyler The Creator, and more.

Meanwhile, as Triller apparently refused to pay Sony or the Verzuz founders, it acquired other platforms such as Fangage, a platform that helps creators to host and sell content. Triller previously called the Verzuz lawsuit a “legal shakedown,” maintaining that the producers had already been paid “$50 million in cash and stock.” Meanwhile, other high-profile stars are beginning to eschew proposed Verzuz battles; Diddy recently said, “We’re not f*ckin’ with Triller until they take care of Swizz and Tim for Verzuz.”

Diddy Says He’s ‘Not F*ckin’ With Triller’ Because Of The Swizz Beatz And Timbaland ‘Verzuz’ Lawsuit

August 20, 2022 by newhiphopnews

It was reported earlier this week that Swizz Beatz and Timbaland are suing Triller for $28 million after the company never paid up for their rap battle show Verzuz. Now Diddy is speaking up to express solidarity with the two rappers.

On a joint Instagram live with So So Def founder Jermaine Dupri, Diddy said, “Since we ain’t f*ckin’ with [Triller] no more, since they’re f*ckin’ around with our boys, we don’t need to be going against each other. Let’s come together and do that Bad Boy-So So Def in Atlanta. It ain’t no Verzuz, it’s just hit-for-hit.”

He added after, “We’re not f*ckin’ with Triller until they take care of Swizz and Tim for Verzuz. Nobody f*cks with Triller until they take care of Tim and Swizz for Verzuz, ’cause Tim and Swizz is Verzuz.”

pic.twitter.com/qujzbXVR8e

— First Class (@1DJFirstClass) August 19, 2022

The suit, filed Tuesday, said that Triller “unequivocally and unconditionally guaranteed to Mosley and Dean the payment and performance of Triller Hold’s obligations under that agreement and related agreements.” Triller allegedly paid them in January and April 2021, but then defaulted on the next required payment.

March of this year marked the two-year anniversary of Verzuz and they celebrated with a documentary. Since its inception, it has held numerous duels between the likes of The Lox, Dipset, Nelly, Ludacris, Keyshia Cole, Ashanti, Jill Scott, Erykah Badu, E-40, Too Short, Gucci Mane, Jeezy, and many more.

Triller Responds To $28M Verzuz Lawsuit: Swizz And Tim Have Been Personally Paid Over $50 Million In Cash

August 18, 2022 by newhiphopnews

Less than a day following the news that Swizz Beatz and Timbaland were suing Triller to the tune of $28 million for breach of contract concerning the Verzuz platform, the company has responded with a statement, saying that not only have Swizz Beatz and Timbaland already been paid an overwhelming amount, but also the two super producers have not yet met the additional requirements to receive the remaining balance.

TMZ first reported that the TikTok rival was firing back at Swizz and TIm, saying that their agreement with Triller is far different than how it is being presented to the public. “This is not a feud over Verzuz, but simply about earn-out payments to Swizz and Tim,” said Triller’s official statement. “Swizz and Tim have personally been paid by Triller over $50 million in cash and stock to-date, and they stand to benefit even more over time. In addition, they have annual obligations, which if met, and no breach has occurred, entitles them to additional payments.”

Triller continued with claims that Swizz and Timbaland have not met the terms of their initial agreement:

“Only one payment of $10 million is in question. We do not believe they have met the thresholds for that payment yet, which include, but are not limited to, delivery of a set number of Verzuz events for 2022. We have been trying to resolve this amicably and this does not affect Verzuz operations or Triller’s ownership of Verzuz. If this does proceed in court, we look forward to a judgment that weighs all the facts.”

Swizz Beatz and Timbaland’s lawsuit reads “To date, Defendants have failed and refused to make any payment to [Swizz Beatz and Timbaland] of the past due sums due and owing.”

To the dismay of many fans, Verzuz was sold to Triller in January 2021.

The post Triller Responds To $28M Verzuz Lawsuit: Swizz And Tim Have Been Personally Paid Over $50 Million In Cash appeared first on The Source.