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Whatever indie music is or isn't, most people know what it refers to musically. Say indie and you might think The Jesus and Mary Chain (who were primarily signed to a major). You DEFINITELY won't be thinking Rick Astley (who for a majority of his career was signed to an Indie).
Indie now is just shorthand for any band that might have listened to the Velvets, Beefheart, Pet Sounds era Beach Boys, the Stooges or Syd Barrett era Floyd (none of whom were signed to independent labels)
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