Background: Tough competition, time- and resource constraints, and changing consumer demands in the video game industry requires business models that can cope with the pressure.    Purpose: The purpose of this thesis is to use business model framework in order to better understand how independent video game developers develop their business models. We aim to contribute to the development of business model literature within the context of independent video game development by further the understanding of how a business model framework can be utilized in this new context.   Method: A case study method was used, focusing on a single-case and interviews with participants from the case company.   Conclusion: We further develop the BMC by proposing to divide the BMC for independent video game developers into a pre-release and post-release BMC to better describe the business model for an independent video game developer and the business model evolution from pre-release to post-release.