The first thing I would do is ask webmasters to remove all unnatural links, and any link that doesn't drive referral traffic. Than I would disavow any links that can't be removed. I would than submit a reconsideration request as they will certainly be penalized for their spamming the search index.
Than, I would FOCUS ALL MY ENERGY AND ATTENTION AT GETTING BACKLINKS FROM THE ARTISTS THAT YOU CLAIM USE YOUR SITE.
I would figure out how your content is useful to artists and their fans, and I would create widgets that the artists would love to add to their sites to share the annotated lyrics.
I would than focus on the media, everytime TMZ breaks a story, I would try to find a way to mine that artists lyrics to add meaning to the event. Hopefully media outlets will pick up your insights from artists songs to spruce up their stories.
Than, I would focus on the fans. I would spin an elaborate web of the interwoven meanings, hidden messages, and other clever things you can mine from your content about artists, and I would become a publisher of crazy content about artists.
Than, I would focus on growing social sharing. Adding meaningful lyrics to tweet out on every page, or tweet this line, etc... I would turn meaningful lyrics into ecards you can send your friends or loved ones.
You are sitting on a goldmine of content, why not start mining it for infotainment. Entertain us, and well link back to you, share you, etc...
When you reach a point where journalists are asking artists on the red carpet if the rapgenius meaning is accurate, than you are really in business!!!