Apart from a promise that “the settlement will increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal,” the settlement’s specific conditions were not disclosed in the late Thursday statement.
“Verzuz has always been a platform that is by the artists, for the artists and with the people,” said Swizz Beatz and Timbaland 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.”
“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that,” said Bobby Sarnevesht, Triller’s executive chairman and co-founder. “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.”
The Verzuz virtual battle series was created by the two producers in March 2020 on Instagram Live, and they sold it to Triller for an undisclosed sum around a year later. The complaint was filed by them in August.