Triller responded to a $28 million breach of contract lawsuit filed against them by music producers Swizz Beatz and Timbaland.
Swizz and Timbaland say Triller purchased their popular livestream battle show in 2021. But Triller allegedly stopped making payments in January 2022.
Beatz and Timbaland created the concept for Verzuz during the Covid-19 pandemic lockdowns in 2020.
Initially they claimed they weren’t trying to make money off of the lip-syncing competition.
But just months later, they brokered a $70 million deal for the livestream series.
In a statement to TMZ on Wednesday, Triller said Swizz and Timbaland received $50 million in a cash deal for Verzuz.
“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 execs claim Swizz and Timbaland failed to deliver Verzuz battles per their agreement in 2022.
It seems Swizz and Timbaland ran into difficulty booking artists after Verzuz was sold.
Basically, the artists did all the work, while Swizz and Timbaland reaped all the benefits.
Triller continued:
“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.”
