Is "indie" a moniker that indicates their record company is of a certain size, or not part of a larger music conglomerate, or is it a style or subgenre? Googling this seems to come up with multiple conflicting answers. In the world of film, studios have "indie film" divisions - is the same true for large record companies?
Originally the term 'Indie' was a shortened form of 'Independent', as in not tied to a major record label.
Of course, over the years, 'Indie' has become a genre of music so now refers to a style of music rather than the record labels that independent artists appear on.
Independent music (often shortened to indie music or indie) is music produced independently from major commercial record labels or their subsidiaries, a process that may include an autonomous, do-it-yourself approach to recording and publishing. The term indie is sometimes also used to describe a genre (such as indie rock, indie metal or indie pop); as a genre term, "indie" may include music that is not independently produced, and most independent music artists do not fall into a single, defined musical style or genre and usually create music that can be categorized into other genres.