Music Fund
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 operates under the Ministry of Culture, Innovation and Higher Education and is managed by Iceland Music.
Inquiries regarding the music fund →
Application deadlines for all Music Fund grants, aside from travel grants, are in April and November.
The fund is not accepting applications at the moment.
Travel grants are awarded every other month.
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
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 aim 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 are considered to be of significance for the development of the local music industry. 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. Focus is on supporting music companies that serve and work with musicians. 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.
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.
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 untill the end of 2024.
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 division
When evaluating applications for the export division, the following factors are considered.
Established name and image
It is important that the project (band, music group, or individual) applying has a well-defined image and has established an artistic and professional reputation in music.
Accessible music catalog
It is preferred that music under the name being applied for is available on major streaming platforms. If the applicant has released limited music, a solid release plan should accompany the application.
Performance experience
When applying for travel grants for concerts, it is recommended to demonstrate previous music performance experience.
Marketing
It is important to have a convincing marketing plan with clear export objectives. Factors such as coverage in international media, social media visibility, website presence, and streaming platform listens are taken into account.
Team and/or professional collaborators
Collaboration with professionals, such as agents, booking managers, and publicists/PR firms, is taken into account. If there is no collaboration with professionals, stricter requirements are placed on the artist to have a clear vision of their export goals and how they plan to achieve them.
All inquiries regarding the music fund →
Music Fund's Logo
Fyrri úthlutanir
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