The mainstream national film industry presents uniformity of ideas, initiatives, messages and visual aesthetic and is rather commercialized. The Indonesian Indie film is developing as an alternative movement to the mainstream film industry in the post-reform era. The paper observes the indie films industry's innovation, focusing on the people involved, ideas put forth, relationships between factors involved and the context in which indie films exists. The research is done with a cultural studies approach through interdisciplinary hermeneutic phenomenology method and interpretative-descriptive technique. The filmmaker's creativity along with the production's stakeholders in creating indie films need innovative management. Innovative management is needed in the production, distribution and consumption phases of indie films. In all the phases, indie films put forward the values bound. In the production and distribution phases, the economic and modernity values which include the autonomic-aesthetic values and originality can be researched on. In the consumption phase, aesthetic values, morale, economy and post-modernity are found. Included in post-modernity are radical relativity values wherein values and truth become the product of the individual and plurality with existential affirmation with respect for differences.