Swizz Beatz and Timbaland’s Verzuz platform has been acquired by Triller Network, the parent company of the popular Triller app, according to Billboard.
The Grammy-winning producers will officially be joining Triller to help oversee their music department. As part of the lucrative deal, Timbo and Swizz also came on board as shareholders in Triller Network. While exact terms weren’t disclosed, the duo is passing a portion of their equity stake to the 43 artists who have previously appeared on the Verzuz platform.
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“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,” said Swizz Beatz and Timbaland in a statement.
Verzuz, which launched in March 2020, has featured music battles between prominent artists. With many concerts and live events canceled or delayed due to the pandemic, fans have turned to watching performances remotely. Verzuz has had more than 5 billion impressions and plans to expand into other areas like comedy, according to a statement.
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The artist battles will expand in 2021 even though none are officially on the schedule just yet. Future plans for Verzuz include more sports-related events and live comedy as well. Triller has positioned itself as an alternative to TikTok. It also saw a surge in popularity last summer when TikTok’s future in the United States was uncertain amid geopolitical wrangling between the Trump administration and China.