Reykjavík City Council has approved a proposal to revive the Music Venue Improvement Fund, with 10 million ISK to be distributed this year, RÚV reports. The aim is to strengthen live music venues downtown.

A task force on live music in Reykjavík presented its recommendations at the end of February. It was set up to look at the state of live music in the city and suggest ways to improve conditions for musicians, venues, audiences and visitors. The findings show that concert venues are under serious financial pressure, and the group says action is needed to stop current conditions from shaping Iceland’s music scene for years to come. Better visibility and easier access to live music were highlighted as key priorities, with targeted measures seen as a way to reverse the trend and strengthen the sector.

The task force proposed four measures, including bringing back the Music Venue Improvement Fund, which ran from 2020 to 2022 and was well-received. It supported small and mid-sized venues and cultural spaces hosting live music.

The report says the fund had a lasting positive impact. On April 10, the city’s Culture and Sports Council approved its return, allocating 10 million ISK for this year.

Other proposals will be sent to City Council, including simplifying venue licensing processes and formally recognising concert venues as important cultural infrastructure.

In addition, Reykjavík City of Music also plans to support hafnar.haus in developing rehearsal facilities at Laugavegur 114-116, in their Hlemmur location (hlemmur.haus). The project will include four rehearsal rooms serving 12-18 bands made up of musicians aged 15-30, with shared access to a stage and recording studio.