Last month, Grammy-winning artists Timbaland and Swizz Beatz sued TikTok competitor Triller for $28 million. Triller acquired their Verzuz live event series last year, but the two musicians alleged the social app missed several major payments, prompting them to file a lawsuit.
Now, Triller has settled with Timbaland and Swizz Beatz, but terms of the settlement are undisclosed. However, Timbaland and Swizz Beatz now own a larger share of the company.
When the two artists filed a lawsuit, Triller had missed out on a big payment to them in January. The parties therefore agreed that Triller would pay them $18 million by March 20, followed by $1 million per month for the next 10 months. The lawsuit claimed that Triller made none of those payments. Triller, however, said a single $10 million payment was at issue.
Triller is also facing a lawsuit from Sony Music for alleged non-payment; Additionally, many creators say they haven’t received the payment promised under Triller’s Creator Program, which specifically recruits black creators.
Despite these legal disputes, Triller still plans to go public soon.
Triller provided a statement via email from CEO Bobby Sarnevesht:
At the end of the day, like any thanksgiving or family reunion, there are disagreements, but like any good family, we all forgive each other at the end and come back stronger than ever.
the triller verzuz family is stronger than it has ever been. We’re glad to have put that disagreement behind us and couldn’t be more excited for the next chapter.
we can’t wait to bring triller, verzuz and the trillerverz to the public markets like a happy family