The role of the Music Recording Fund is to empower Icelandic music by allocating grants to support the recording and publishing of music. The Fund primarily focuses on the development and recording of new, original music, with one of its key goals being the support of innovation. The Fund awards grants for a maximum of one year at a time. The Fund generally doesn't allocate grants for operational costs of any sort and it does not support projects revolving around the reissuing of music which has already been recorded and released.
The board of the Fund is composed of one individual nominated by the Minister of Education, Science and Culture and two individuals nominated by the Icelandic Music Association. The board reviews applications and makes recommendations about projects to be funded. The evaluations are performed in accordance with the Music Recording Fund guidelines which stipulate the criteria forming the basis of the board's decision making process. In the allocation process, the guidelines emphasize equality, objectivity and transparency, as well as competitive aspects being taken into consideration.
The Music Recording Fund supports innovation and diversity in music creation in Iceland. In 2019, 128 projects received fiscal support through the Fund for their projects. The total amount funded across all projects that year was 279,181 USD. The fund supports the continued innovation of musicians, leading to a more diverse music scene for both musicians and the general public to engage with.
298,037 USD in 2019 (40.7 million ISK).
|Name of partner||Type of entity|
The Icelandic Centre for Research