Spotify's inked another important record label deal securing independent artists from Rough Trade, Domino, Sub Pop and more after Universal Music

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Artists from the world's top indie labels have been secured on Spotify (Source: Getty)

Spotify has inked another new record label deal as it sails towards an IPO.

The music streaming service has signed on the dotted line with Merlin, the group representing top indie record labels such as Rough Trade, Sub Pop, Domino and Epitaph.

It secures artists on the platform such as Arctic Monkeys, Warpaint, Sleaford Mods, Fleet Foxes, Brain Eno and Father John Misty.

Read more: IPO ahoy? Spotify's finally agreed a deal with Universal Music

They will also benefit from a new feature offered to major label artists such as Kanye West where they can choose so-called flexible releases. This puts new album releases on the premium paid-for tier only for a two week period.

It comes just over a fortnight after Spotify agreed a huge deal with Universal Music, which reps the likes of Adele and Taylor Swift, following some wrangling between the two.

The new multi-year deal secures many popular artists music for listeners for the foreseeable future and is another piece of the jigsaw puzzle slotted in place to complete an IPO, which some expect as soon as this year.

Read more: The clock is ticking on Spotify's IPO

Spotify co-founder and boss Daniel Ek tweeted: "Indie music has been a huge part of our success since day one and I am super happy to say we have a new multi-year deal with Merlin."

Merlin chief executive Charles Caldas said: "This new agreement lays the path to future sustainable growth for us both, and we look forward to remaining an integral part in the service's continued success.”

Tags: Spotify