Glassriver: Ready for the Next Chapter
As Iceland continues to punch above its weight on the global content stage, few companies embody that momentum more clearly than Glassriver. Founded with the ambition of bringing distinctly Icelandic stories to international audiences, the company has steadily built a reputation for combining strong local storytelling traditions with global market savvy. From development and financing to international co-productions, Glassriver operates across the full value chain at a time when independent producers must be more agile than ever.
In this TVBIZZ interview with Yako Molhov, CEO Andri Ómarsson reflects on the evolution of Glassriver over the past decade, the enduring global appeal of Nordic storytelling, and why development remains the company’s strategic core. He also shares his views on co-productions, opportunities in Central and Eastern Europe, the growing buzz around vertical and microdrama formats, and how Iceland’s 35% tax incentive underpins the company’s financing model. As the industry navigates consolidation and shifting commissioning strategies, Ómarsson outlines how Glassriver is adapting — and what success looks like in the next chapter of its journey.
In this TVBIZZ interview with Yako Molhov, CEO Andri Ómarsson reflects on the evolution of Glassriver over the past decade, the enduring global appeal of Nordic storytelling, and why development remains the company’s strategic core. He also shares his views on co-productions, opportunities in Central and Eastern Europe, the growing buzz around vertical and microdrama formats, and how Iceland’s 35% tax incentive underpins the company’s financing model. As the industry navigates consolidation and shifting commissioning strategies, Ómarsson outlines how Glassriver is adapting — and what success looks like in the next chapter of its journey.
Andri Ómarsson, CEO of Glassriver
Andri, Glassriver has positioned itself as a bridge between local stories and global audiences. How do you define the company’s core mission today, and how has it evolved since its launch?
Our mission remains unchanged, to create compelling Icelandic stories for an international audience. Now, after a decade of operation, we are better equipped than ever to achieve this goal.
What is special about the Icelandic content industry and the stories being told there? What motivated you to establish Glassriver?
Storytelling has always been a cornerstone of our culture. Perhaps it stems from enduring harsh winters on a remote island and being isolated for months without daylight, where we relied on stories to connect and entertain each. Today, ‘Nordic Noir’ and Icelandic literature have gained global acclaim. Coupled with our world class infrastructure and extensive experience supporting major Hollywood productions, we realized soon enough that we could combine these strengths to compete in the international content market.
Glassriver is active across development, financing, and production. Which part of the value chain currently offers the greatest strategic opportunity, and why?
Development! In a competitive industry, compelling stories are what sell. Of course, having the right contacts for financing and the expertise to produce are crucial, but everything relies on a strong foundation built around a well-developed story.
How do you assess the current appetite of global streamers and broadcasters for independently produced European drama and factual content?
We rely on our partners, the distributors who engage with buyers daily, and they connect with the audience. Throughout the year, we remain active in all major markets, paying close attention to industry buzz, personal experiences, and insights from speakers.
Are there specific genres, formats, or IP types that Glassriver is prioritizing in the current commissioning climate? What are your thoughts and plans for the buzzy vertical content/microdramas?
We are examining how a small country like Iceland could leverage the new story format in vertical and micro drama. Our primary focus currently is on crime, particularly "light" crime or "Nordic blue”.
How important are international co-productions for Glassriver, and what makes a co-production partnership truly effective rather than merely contractual?
Quite simply, they are essential. We are a country of 400.000 and cannot fully fund a series using only local resources. Securing a co-producer is therefore a crucial step forward in obtaining the necessary financing and to help us craft stories with global appeal. When two countries collaborate, their unique perspectives can elevate the material to greater heights.
Central and Eastern Europe has become increasingly visible on the global content map. What strengths do you see in the region, are you interested in doing more coproductions with CEE partners like Idea Film?
I feel that countries in CEE and the Nordics have historically demonstrated agility and the ability to adapt swiftly to new circumstances. Their history and natural conditions have often compelled them to do so. With this mindset, these nations have successfully navigated and adjusted to changes in our market.
With budgets under pressure across the industry, how is Glassriver adapting its financing models to remain competitive and sustainable?
This has always been a challenge. As anyone who has travelled to Iceland knows, it is an expensive country. We've had to be resourceful to maintain competitive budgets, and just as before, must remain vigilant in today’s evolving sales climate.
What role do tax incentives and public funding play in your decision-making when choosing where to develop and produce projects?
In a time when securing financing is increasingly challenging, tax incentives play a crucial role in our current financing model. Iceland’s generous 35% system is a significant advantage for us, and we are fortunate to benefit from it.
As CEO, how do you balance creative ambition with financial discipline in a market that is becoming more risk-averse?
I have an excellent team, and we strive to ensure that all our discussions consider both ends of the spectrum, challenging everything - from the creative aspects to the financial ones. It’s crucial also to reflect on each project after its completion, evaluating what went well and what didn’t. After every project, we hold comprehensive retro meetings to learn from our experiences and improve each new IP in our slate.
The industry is talking a lot about consolidation and fewer commissioning outlets. How does this shift impact independent companies like Glassriver?
We must adapt swiftly. With NEW8 now emerging as a factor, it is crucial to respond to these evolving market dynamics and partnerships.
Finally, what would you consider a defining success for Glassriver in the near future, both creatively and commercially?
We love running this marathon that is managing a production company rooted in Iceland but making content for the international market, but it can currently be challenging. That said, we’ve certainly got bigger and more ambitious goals to strive for, so watch this space!
Our mission remains unchanged, to create compelling Icelandic stories for an international audience. Now, after a decade of operation, we are better equipped than ever to achieve this goal.
What is special about the Icelandic content industry and the stories being told there? What motivated you to establish Glassriver?
Storytelling has always been a cornerstone of our culture. Perhaps it stems from enduring harsh winters on a remote island and being isolated for months without daylight, where we relied on stories to connect and entertain each. Today, ‘Nordic Noir’ and Icelandic literature have gained global acclaim. Coupled with our world class infrastructure and extensive experience supporting major Hollywood productions, we realized soon enough that we could combine these strengths to compete in the international content market.
Glassriver is active across development, financing, and production. Which part of the value chain currently offers the greatest strategic opportunity, and why?
Development! In a competitive industry, compelling stories are what sell. Of course, having the right contacts for financing and the expertise to produce are crucial, but everything relies on a strong foundation built around a well-developed story.
How do you assess the current appetite of global streamers and broadcasters for independently produced European drama and factual content?
We rely on our partners, the distributors who engage with buyers daily, and they connect with the audience. Throughout the year, we remain active in all major markets, paying close attention to industry buzz, personal experiences, and insights from speakers.
Are there specific genres, formats, or IP types that Glassriver is prioritizing in the current commissioning climate? What are your thoughts and plans for the buzzy vertical content/microdramas?
We are examining how a small country like Iceland could leverage the new story format in vertical and micro drama. Our primary focus currently is on crime, particularly "light" crime or "Nordic blue”.
How important are international co-productions for Glassriver, and what makes a co-production partnership truly effective rather than merely contractual?
Quite simply, they are essential. We are a country of 400.000 and cannot fully fund a series using only local resources. Securing a co-producer is therefore a crucial step forward in obtaining the necessary financing and to help us craft stories with global appeal. When two countries collaborate, their unique perspectives can elevate the material to greater heights.
Cold Haven
Central and Eastern Europe has become increasingly visible on the global content map. What strengths do you see in the region, are you interested in doing more coproductions with CEE partners like Idea Film?
I feel that countries in CEE and the Nordics have historically demonstrated agility and the ability to adapt swiftly to new circumstances. Their history and natural conditions have often compelled them to do so. With this mindset, these nations have successfully navigated and adjusted to changes in our market.
With budgets under pressure across the industry, how is Glassriver adapting its financing models to remain competitive and sustainable?
This has always been a challenge. As anyone who has travelled to Iceland knows, it is an expensive country. We've had to be resourceful to maintain competitive budgets, and just as before, must remain vigilant in today’s evolving sales climate.
What role do tax incentives and public funding play in your decision-making when choosing where to develop and produce projects?
In a time when securing financing is increasingly challenging, tax incentives play a crucial role in our current financing model. Iceland’s generous 35% system is a significant advantage for us, and we are fortunate to benefit from it.
As CEO, how do you balance creative ambition with financial discipline in a market that is becoming more risk-averse?
I have an excellent team, and we strive to ensure that all our discussions consider both ends of the spectrum, challenging everything - from the creative aspects to the financial ones. It’s crucial also to reflect on each project after its completion, evaluating what went well and what didn’t. After every project, we hold comprehensive retro meetings to learn from our experiences and improve each new IP in our slate.
The industry is talking a lot about consolidation and fewer commissioning outlets. How does this shift impact independent companies like Glassriver?
We must adapt swiftly. With NEW8 now emerging as a factor, it is crucial to respond to these evolving market dynamics and partnerships.
Elma
Finally, what would you consider a defining success for Glassriver in the near future, both creatively and commercially?
We love running this marathon that is managing a production company rooted in Iceland but making content for the international market, but it can currently be challenging. That said, we’ve certainly got bigger and more ambitious goals to strive for, so watch this space!
