Popular American music producers Swizz Beatz and Timberland have slammed social media platform Triller for defaulting on Verzuz payment after acquiring the live streaming music app last year.
According to the lawsuit, Triller began missing payments in Jan. 2022, skipping out on a large settlement promised in March. Under its terms, Triller was supposed to pay them $9 million each no later than March 17. After that, Triller would pay them $500,000 each on the first of the month for 10 months.
The lawsuit revealed that Triller again defaulted on the agreement. The company did not pay the $18 million in March, nor did it make any of the $1 million monthly installment payments. In April, Timbaland and Swizz Beatz sent out a notice and demand for payment, but Triller still hasn’t paid up.
READ ALSO: Timbaland, Swizz Beats sell live streaming music app ‘Verzuz’ for undisclosed fee
“To date, Defendants have failed and refused to make any payment to [Swizz Beatz and Timbaland] of the past due sums due and owing,” the lawsuit reads.
Recall that after selling the live streaming music app in 2021, Swizz Beatz and Timbaland who are co-founders of the platform also allocated a portion of their equity in the new combined company to all 43 performers who have appeared on Verzuz to date.
