Icelandic film academy seeks six million for Edda Awards

The Icelandic Film and Television Academy (ÍKSA) is asking Iceland’s parliament for a six million króna grant to stage the 2027 Edda Awards, mbl.is reports.

The academy’s application to parliament’s budget committee says this year’s ceremony ran at a deficit despite significant cuts, as costs rose and grants fell. ÍKSA hopes to hold the awards in February 2027.

The academy estimates its costs next year at 20.8 million krónur and income at 14.8 million, leaving a shortfall of nearly six million. The ceremony itself is expected to cost 11.8 million krónur, with a further three million in unpaid expenses from a previous event.

Other projected expenses include more than four million krónur in fixed operating costs and nearly two million for variable costs and the announcement of nominees. Expected income includes 5.4 million from submission and membership fees and 3.9 million from ticket sales, alongside other income and possible grants.

ÍKSA says the Icelandic Film Centre cannot support the event in the same way as in previous years because of reduced funding for film policy and culture. The academy’s budget nevertheless includes a possible 2.6 million króna grant from the centre, the same amount as last time.

The academy says the awards play an important role in Iceland’s film industry and help raise the international profile of local professionals. This year’s ceremony was held on May 29. The awards have been presented almost every year since 1999, and this year included 36 categories, up from 20 the previous year.