Modern Hungarian record publishing started in 1951 when the state established the Hungarian Record Company (MHV). Due to this situation, the outstanding artists of Hungarian classical and light music as well as the best actors recorded for Hungaroton and a valuable archive of more than ten thousand titles came into being. The company issues approximately 150 products a year, of which nearly 80 are classical recordings, 50 light music, a dozen or so literature and nursery tales and the rest consist of folk music and other genres. Two thirds of the classical CDs are new recordings, the rest re-issues. In the case of light music, this ratio is reversed. The current catalogue contains over a thousand classical recordings and roughly half as many light music recordings. Hungaroton is a recognized label on the world market.