Livestream Music Platform Verzuz Purchased By Triller Network
Music producers Timbaland and Swizz Beatz’ Verzuz platform has earned itself a significant amount of value, especially in the middle of a global pandemic. With their focal points being the music, culture, and experience, they’ve now joined forces with Triller Network.
Triller network, the parent company to the Triller App, has purchased the live-stream platform Verzuz, Billboard reports. In efforts to improve the experience, Timbaland and Swizz Beatz will join Triller’s management team. They will be spearheading music and other endeavors needed for Verzuz to thrive.
“This a momentous occasion not only for Verzuz and Triller but the music business as a whole,” Swizz and Timb noted. 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.”
In addition to Swizz and Timb joining the management squad, they also saw to it that all Verzuz performers (43 so far) receive equity stake, from their own portion of the equity. They are now the largest shareholders in Triller Network.
Bobby Sarnevesht, executive chairman and co-owner of Triller stated, “there is no more disruptive and innovative brand in music today than Verzuz. 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, Timberland and the other 43 artists who are all becoming shareholders and partners in Triller Verzuz from this day forward become our voice.”
What started as Swizz and Timb conceiving the idea in 2017 and then having a “producer clash” during the Hot 97 Summer Jam concert in 2018, has turned into a platform that has impacted the culture. Billboard adds that Verzuz has increased the streams and sales for the artists included in their battles and has gained over five billion impressions.
The Triller Verzuz management team is looking to include live events, comedy, and sports-adjacent plans in the future.
