Timbaland and Swizz Beatz are suing Triller, a short-form music video app, for $28 million for breach of contract after the app acquired the duo’s live music platform Verzuz. According to the Washington Post, the lawsuit was filed Tuesday, August 16, in Los Angeles Superior Court. Lawyers for Timbaland and Swizz Beatz allege that Triller ignored the claims and violated them.
According to the complaint, the couple was paid in January and April last year, but the payments are 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 announced that one percent of their shares would be distributed to Verzuz artists such as DMX, Jeezy, Gucci Mane, Gladys Knight and others.
This quote is funny because the popular argument is that Verzuz went downhill when he “collaborated” 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 heavy price for Verzuz.
Triller announced in 2021 that it would buy Verzuz for an undisclosed amount. It also signals the end of their partnership with Apple Music. Under the agreement, Timbaland and Swizz Beatz will join Triller’s management team and become shareholders of Triller Network. It will provide part of the investment capital to 43 musicians affiliated with Verzuza, allowing them to continue their work in the music business.
Although the details of the transaction were not disclosed at the time, it was later revealed to be in the eight-figure range. It must be paid in installments, with the first due at closing, then the second and two more on the first and second anniversaries of the transaction.
While Triller failed to make the payments, a new agreement was signed in which Triller agreed to pay $9 million by March 17 and $500,000 separately to Timbaland and Swizz Beatz over the next ten months. Triller has yet to pay and, after being warned, has not responded. Timbaland and Swizz Beatz are suing Triller for $28,095,000 in damages, as well as legal fees and expenses, and pre-judgment interest.
For Thriller and Verzuzo
Triller is a social networking site where users can create and share short films, including those that are placed 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. Horror movies became popular in India when TikTok banned and subsequently distributed pay-per-view boxing events.
Timbaland and Swizz Beatz produced the Verzuz webcast series. It debuted during the COVID-19 outbreak, when the pair DJed on Instagram Live. Timbaland and Swizz Beatz’s live-streamed rap battle show has become a string of success, with several famous musicians like John Legend, 2 Chainz, Alicia Keys, and more appearing on the show.
Categories: Entertaintment
Source: vcmp.edu.vn