The "buyback" option on a catalogue, means that the original offeror of royalty interests (e.g. publisher, record label, artist, etc.) can choose to buy back all the royalty interest shares from the market at a 15% premium on the volume-weighted average price of the last 31 days.
If exercised, the buyback option allows the original offeror to repurchase your entire royalty interests, which may shorten the expiry of contract date. More details can be found on the catalogue's contract.
You can verify if this option applies to a specific catalogue by navigating to the catalogue’s page and checking the “Catalogue features” section.
For further questions, contact support@anotemusic.com.