Its main focus is showcasing new music, both Icelandic and international.

The event is promoted and produced by Iceland Music Export[1] and sponsored by its founder, Icelandair, in cooperation with the City of Reykjavík.

[citation needed] In February 2018, the event managing company, Sena Live, bought the logo and all associated trademarks of Iceland Airwaves.

[2] The first festival was held in October 1999 as a one-off event in an airplane hangar at Reykjavík Airport.

In 2018, 50% of the performers at Iceland Airwaves were female, making the festival one of the first to include gender equality in its lineup.