Swizz Beatz & Timbaland Still Own 100% Of ‘Verzuz’ Despite Triller Sale
Swizz Beatz and Timbaland want to set the record straight regarding the ownership of the Verzuz platform. According to the megaproducers, Verzuz is still 100% Black-owned.
There has been speculation around the future of Verzuz after Timbaland and Swizz allowed Triller to acquire the battle web series for an eight-figure sum in March 2021 via Hollywood Reporter. However, by August 2022, Tim and Swizz sued Triller for breach of contract claiming Triller failed to make a $28 million payment to acquire Verzuz.
Since the legal dispute, there haven’t been any major Verzuz battles released on the platform. The hiatus has made fans wonder if the Triller acquisition took away the culture created when Verzuz was born during the COVID-19 pandemic in 2020.
But Swizz Beatz and Timbaland hopped on Instagram Live over the weekend to update fans on the future of Verzuz and confirm their place as the sole owners of the platform.
“VERZUZ is still 100 percent Black-owned,” Swizz said, in a clip captured by Hip Hop DX.
He said, “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. OK?”
— HipHopDX (@HipHopDX) May 14, 2023
“It was built for the people, and it will stay with the people. And we love everybody,” Swizz added.
However, their claims negate the 2021 acquisition of Verzuz that turned them into shareholders and members of the Triller team. At the time the deal was made, Triller’s parent company, Triller Network, acquired the VERZUZ platform and left Swizz and Timbaland with shares of the company, Variety reports.
The superproducers behind hits like “Promiscuous” and “On To The Next One” also went on to join Triller’s management team and reportedly allocated part of their equity stake to the 43 performers who had appeared on Verzuz.
The last Verzuz battle took place in June 2022 between singers Mario and Omarion. Fans have been anxiously awaiting the next big battle, which is said to be between Diddy and Jermaine Dupri this fall.