Iceland Music's board consists of representatives from its founding organisations: STEF, FHF, FÍH, the Association of Music Teachers and School Administrators, and the Icelandic Society of Authors and Composers. The Minister of Culture, Innovation and Higher Education also appoints two members.

Óttarr Proppé

Chairman of the Board, appointed by the minister

Eva Hrund Einarsdóttir

Appointed by the minister

Gunnar Hrafnsson

Nominated by FÍH

Páll Ragnar Pálsson

Nominated by the Icelandic Society of Authors and Composers

Guðrún Björk Bjarnadóttir

Nominated by STEF

Sigrún Grendal

Nominated by Association of Music Teachers and School Administrators

Ásmundur Jónsson

Nominated by FHF