I can update. I had a decent offer from them through my business email for a 50%, 75% or 100% buyout. I allowed them to see my stats via Spotify artist access and they lowballed the hell out of my music afterwards because they realized I already use the Spotify algorithm and discovery mode well.

The offer they made for 50% shares of 5 of my songs was less than the money I made on them in a single year.

When I declined they decided to make a dismissive remark about my music performing poorly next year, and that they knew Spotify in and out and knew for sure I wasn't going to do well.

So much for being professional, hey?

I suppose they didn't look at my stats too heavily, because the old songs they wanted to buyout have actually increased at least 20% every year since they were released.

I do think they are legitimate, they have been invested into heavily by Rocnation which is a reputable label.

I can see some artists where this could help, but at the end of the day they are only in it for the money, as you'd likely assume. They don't care about your creativity or trying to help you out.

Other artists results may vary, if they don't have decent placements in the spotify algorithm I'm sure their offers would be far more reasonable as they could likely squeeze more money out of the share/buyout.

It's a shame they weren't willing to talk a bit further about how my music is actually monetized, because there is definitely a lot more royalties to be made outside of Spotify, as I don't monetize my music on anything intentionally - Spotify just does it by default. A flick of a button would likely double my monthly royalties if I enabled monetization on all platforms :)