The Demise Of Icelandic Media

The Reykjavík Grapevine was in the local news in late February due to our layoffs. This is a devastating and demoralising action to take, but done to ensure the continued existence of The Grapevine. It also demonstrates the general environment in which the free media in Iceland operates, where the number of journalists has gone down by 69 percent since 2008.

Advertising revenues have drifted from the local media to social media platforms. Icelandic media companies, already hemmed in by financial shortfalls, have had difficulties investing in transforming their business models to deal with the situation; that is, to shift towards subscription models.

On February 27, the government finally published a draft of a new media bill. The bill does not propose anything about helping Icelandic media companies develop into sustainable businesses, something legislative efforts in Scandinavia have managed. Instead, the plan funnels more money into the two largest privately owned media companies in Iceland, not addressing the core problems. Media like ours are forced to make cuts, while trying to invest in building a sustainable business model. Until then, you can support us with donations at support.grapevine.is