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 November 1st at 15.00.
Travel grants are awarded every other month from June 1st, 2024.
Apply hereApplication deadlines are before 12am February 1st, April 1st, June 1st, August 1st, October 1st, and December 1st.
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
for applicants to the export department
Grant applications from the export department are evaluated based on the following factors
Artist Brand
The applicant (band, music group, or individual) should have a clear identity and a proven track record, both artistically and professionally.
Available Music Catalogue
Music submitted under the applicant’s name should be available on major streaming platforms. If the applicant has released little music, the application must include a clear release plan, if relevant.
Experience with Performing Live
Applicants for a travel grant should demonstrate their experience in musical performance.
Promotion
It’s important to have a strong marketing plan with clear export goals. Foreign media coverage, social media visibility, website presence, and streaming platform listens are all considered.
Team or Collaborators
Having a working relationship with professionals, such as booking agents, promoters, and publicists, is important. If applicants do not have these professional connections, they must clearly outline their export goals and the steps they will personally take to achieve them.
Inquiries regarding the music fund →
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