It looks like it’s a case of owner money Verzuz executive money because creators Swizz Beatz and Timbaland have some huge news!
According to Billboard, the streaming platform and global pandemic lockdown-era phenomenon has been acquired by Triller Network, which is the parent company of the Triller video-making and social media app.
“This is a momentous occasion not only for Verzuz and Triller but the music business as a whole,” Swizz and Timbaland said in a joint statement. “By putting Verzuz in the Triller Network ecosystem and expanding the Verzuz brand to be side by side with the powerful Triller app, we will be able to continue to grow and evolve the music business as a whole, as we have been doing. To have partners in Triller who share our vision, specifically to celebrate and elevate the amazing artists who continue to shape culture around the world and give the consumer more direct access, is game-changing.”
“There is no more disruptive and innovative brand in music today than Verzuz,” Bobby Sarnevesht, executive chairman and co-owner of Triller, said in a statement. “Both Triller and Verzuz share the ‘artist first, music first’ vision. We view this acquisition as more of a partnership than an acquisition, as Swizz, Timbaland and the other 43 artists who are all becoming shareholders and partners in Triller Verzuz from this day forward become our voice.”
More info about the new deal from Billboard:
Under the terms of the agreement, the Grammy Award-winning producers and entrepreneurs will also join the Triller Verzuz management team to help oversee music and other company strategies.
Financial details of the transaction weren’t disclosed. However, as a result, Timbaland and Swizz Beatz have become large shareholders in Triller Network and in turn have allocated part of their equity stake to the 43 performers who’ve appeared on Verzuz to date.
Performers coming aboard as shareholders and partners include John Legend, DMX, Alicia Keys, 2 Chainz, Rick Ross, Too $hort, Patti LaBelle, Gucci Mane, Jeezy, E-40, Bounty Killer, D’Angelo, Ludacris, RZA, The Dream, Babyface, Nelly, Jagged Edge, Fred Hammond, Jadakiss, Fabolous, Brandy, Monica, Gladys Knight, Boi-1da, Hit-Boy, Ne-Yo, Johnta Austin, Scott Storch, T-Pain, Lil Jon, DJ Premier, Mannie Fresh, Erykah Badu, Jill Scott, Beenie Man, Bounty Killer, 112, Kirk Franklin, Sean Garrett and D’Angelo.
Verzuz quickly entered the pop culture zeitgeist in 2020 after providing much-needed entertainment during the stay-at-home mandate, with some nights reaching over a million viewers on Instagram alone (not even counting the Apple Music broadcasts). Hell, it was a whole-ass award category in The Root’s very own 2021 Skippies.
“We couldn’t be happier to be elevating Verzuz and Triller and to recognize, in a very real way, all of the artists who have helped make Verzuz the global phenomenon it is today,” Swizz and Timbaland concluded. “Our dream, the artists’ dream, today is realized, which is no small feat. Triller Verzuz is a company that’s by the artists, for the artists and with the people.”