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.
Inquiries regarding the music fund →
Application deadlines for all Music Fund grants, aside from travel grants, are in May and November.
Next application deadline is 1 november at 15.00.
Travel grants are awarded every other month from 1 June 2024.
Apply hereApplication deadlines are 1 February, 1 April, 1 June, 1 August, 1 October, and 1 December.
Grants
Music Grants
awarded from
creation and release department
Project grant amounts:
500,000 - 3,000,000 ISK.
Performance Grants
awarded from
live performance department
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
Project grant amounts:
500,000 - 3,000,000 ISK.
Amounts for long-term contracts:
1,000,000 - 6,000,000 ISK per year.
Marketing Grants
awarded from
export department
Project grant amounts:
500,000 - 2,000,000 ISK.
Travel Grants
awarded from
export department
Grant amounts:
50,000 ISK domestically*
75,000 ISK within Europe
100,000 ISK outside Europe.
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.
40% Budget, marketing plan & timeline
The grant committee assesses whether the budget is convincing and accurately portrays the project's financial needs with realistic income and costs.
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.
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
Undir því nafni sem sótt er um er æskilegt að til sé útgefin tónlist á helstu streymisveitum. Nýjasta efnið skal þá ekki vera eldra en fimm ára. Ef umsækjandi hefur ekki gefið út mikið af tónlist þarf að fylgja sannfærandi útgáfuplan með umsókn, ef við á.
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
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
Inquiries regarding the music fund →
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