The role of the Music Fund is to promote Icelandic music according to the Music Act and the regulations of the Music Fund. The fund shall contribute to the promotion of Icelandic musicians and their music creation both domestically and internationally.

The Music Fund falls under the Ministry of Culture and Business Affairs and is managed by the office of Tónlistarmiðstöð, Iceland Music.

Application deadlines for all Music Fund grants, except travel grants, are in May and November.‍

The next application deadline is 21 May, with applications opening on 30 April.

*Please note for international applicants without island.is log-in, write to styrkir@icelandmusic.is to access the application portal.

Travel grants are awarded every other month from 1 June 2024.

Apply here

Application deadlines are 1 June, 1 August, 1 October, and 1 December.

Grants

Music Grants

awarded from

creation and release department

Grants for composing, recording, releasing, and promoting music.

Grants for various types of music creation, production, and related marketing. Recording, publishing, composition, and arrangement fall under this category. The aim of the grants is to promote professionalism, innovation, and diversity in music, thereby enhancing the music scene in Iceland.

Project grant amounts:
500,000 - 3,000,000 ISK.

‍

Performance Grants

awarded from

live performance department

Grants for domestic concerts and concert tours.

Grants for domestic concerts and related marketing. Grants are awarded directly to musicians and their representatives. The goal of the grants is to promote innovation and diversity in music, thereby enhancing the music scene in Iceland.

Project grant amounts:
250,000 - 3,000,000 ISK.

Amounts for long-term contracts:
1,000,000 - 6,000,000 ISK per year.

‍

Business Grants

awarded from

development and infrastructure department

Grants for music projects such as music festivals, concert venues, business ideas in music, and startup projects.

Grants for associations and companies that have proven to be significant supports in the Icelandic music scene, development projects, and projects that contribute to the development of the music industry infrastructure. The aim of the grants is to build a working environment for musicians, enhance the music industry in Iceland, and promote innovation and diversity in music. Special attention is paid to ensuring that financial and marketing plans are thorough.

Project grant amounts:
500,000 - 3,000,000 ISK.

Amounts for long-term contracts:
1,000,000 - 6,000,000 ISK per year.

‍

Travel Grants

awarded from

export department

Grants for travel to seek opportunities abroad.

Grants for artists and industry professionals who want to seek opportunities in larger markets, such as concert tours, trade missions, expos, and showcases. Grants are also awarded to composers for the premiere of their musical works. The goal of the grants is to support projects that are export-ready. *Industry professionals can apply for grants for domestic work-related trips, such as attending conferences and events in other regions. Note that this is a pilot project for one year.

Grant amounts:
50,000 ISK domestically*
75,000 ISK within Europe
100,000 ISK outside Europe.

‍

Marketing Grants

awarded from

export department

Grants to attract attention abroad.

Grants are awarded to projects that contribute to the promotion of Icelandic music in foreign markets and increase the chances of success outside Iceland. Grants are awarded to projects that are export-ready and special attention is paid to ensuring that financial and marketing plans are thorough. Applicants are also expected to collaborate with convincing foreign parties.

Project grant amounts:
500,000 - 2,000,000 ISK.

‍

Rating Scale

The grant committee evaluates applications based on the goals and priorities of each department. The board uses a standardised evaluation sheet based on the following factors:

40% Overall Project

The grant committee assesses whether the project is well-defined, interesting, contributes to diversity of the Icelandic music sector while aiming for excellence.

‍20% Applicant and Participants‍

The grant committee assesses how convincing the applicant and other participants are in achieving the set goals considering their professional and artistic background.

15% Budget

The grant committee assesses whether the budget is convincing and accurately portrays the project's financial needs with realistic income and costs.

‍15% Marketing Plan

The grant committee assesses whether the marketing plan is realistic and well-considered, on factors such as the targeted market and the required funding. Further, it needs to be clear who is responsible for executing the marketing plan.

10% Timeline

The grant committee assesses whether the work and time schedule are realistic, clear, and consistent with other plans.

Applications will not be considered if final reports or progress reports have not been submitted to the application system for projects that received funding in 2022 or later. This applies to applications from the "old" Music Fund (Tónlistarsjóður) and Recording Fund (Hljóðritasjóður), but not the Export Fund (Útflutningssjóður).

Long-Term Contracts

Available under Performance and Business Grants.

Applicants can apply for a long-term contract for two or three years for their projects.

A long-term budget must be submitted. The amount applied for is on an annual basis; for example, if 1,000,000 ISK is applied for, that amount should be expected annually.
‍
The budget for the first year should be detailed and is the one entered into the application form. A long-term budget for the entire period should be submitted as an attachment.

If the grant committee decides not to award a long-term grant, the application will also be considered for a single project grant.

When evaluating applications for long-term contracts, the following factors are considered:

Is the project important for the Icelandic music sector
Does the project contribute to the development of the Icelandic music industry?
Is the project approached professionally, and are former performance reports convincing?
Have previous grants been well used?
Does the project have a sustainability policy on matters such as equality, diversity, and the environment?

Export Ready

Relevant for Marketing and Travel Grants.

Projects applying to the Export Department are required to meet Iceland Music's definition of 'Export Ready' to be eligible for funding. The relevant factors are:

Artist Brand

It is important that the artist (band, music group, or individual) has built an identity as an artist with a demonstrable track record, artistically and professionally.

Available Music Catalogue

Music must be available on major streaming platforms under the artist name. The latest releases should not be more than five years old. An artist with a limited catalogue should include a convincing release s

Experience with Performing Live

It is essential that the artist has significant experience in performing their music live, particularly when applying for travel grant.

Promotion

The artist applying should have a convincing artist brand and a clear marketing focus. Relevant factors include international media coverage, online presence across web and social, and streaming numbers.

Team or Collaborators

There is an increasing emphasis on professional collaborators, such as agents, bookers, PR agencies, or others who can create and capitalise on international opportunities. Should the artist not have such a team in place, stricter requirements are made for the artist to have a clear vision of their export goals and their personal ability to execute them.