TikTok rival Triller announced a lawsuit settlement with music producers Swizz Beats and Timbaland, founders of Verzuz. The move comes after the 2 beats makers file a court complaint against the social media platform for late payment.
Triller has settled what’s due to Swizz Beats and Timbaland but the financial terms are undisclosed, some news reports state that Verzuz co-founders now own a larger share of the company.
Triller CEO in a statement said, “at the end of the day just like any thanksgiving or family gathering, there are disagreements, but like any good family we all forgive each other in the end and come back stronger than ever. the Triller Verzuz family is as strong as they have ever been. We are glad we put this disagreement behind us and couldn’t be more excited for the next chapter. we look forward to bring triller, verzuz and the trillerverz to the public markets as one happy family.”
According to the lawsuit then, it was agreed that Triller would pay them $18 million by March 20, followed by $1 million per month for the next 10 months. However, the social media company said only $10 million was due to Timbs and Swizz.
